It went right along with collecting lien waivers from any contractors that had done work on the property in the six months prior to the sale (another lienable item and a title insurance requirement), That so many people; broker(s), lawyer(s), title/escrow people missed this one item that is part of every real estate transaction I've ever been involved with has to be viewed as a gross error and ultimately should fall on someone else's shoulders, be it the broker(s), lawyer, title company or their errors and omissions insurance policy.

It will mean that you will have to shoulder all risks as well.

You have to be extremely careful when doing this because you are shouldering the credit of another individual.

Partly because it's often to their benefit and partly because sometimes the FDIC is looking over their shoulder.

You'll be shoulder to shoulder with people who have the same interest in real estate and some will have a deep understanding of the market you're in.  

I know a lot about construction, and have actually done some of it, but I can't any longer, have some knee and shoulder issues.

@Mason Marin,Great goals, and you have a great head on your shoulders, staying at home while you save money for a down payment on a couple of properties is brilliant!  

He passed the torch to his son Gil who stands on his dad's shoulders and does great things. 

Anytime an issue arises that doesn't explicitly fall on one of their shoulders, they will deflect blame to the other party.Ultimately, if it's not their responsibility, it's yours.

Running the utilities back to your house once they are at the road will be on  your shoulders (labor and payment) and it costs a ton (depending how far back your house is from the road) so be prepared.Other considerations are where the driveway will go, are there any flood concerns, is there a good building site on the land?