I personally am more restrained in calling someone sensitive, thin skinned, etc than Jonathan but you have crossed the line to were I share his belief.  

But it’s only $50/yr with scheduling, reports, transaction downloading/entry. 

@Michael MattinglyRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

My guess is they will change the definitions to attach TILA/RESPA/Reg Z to every seller financed transaction involving primary residences. 

However, in my opinion, since you are a new investor, completing a successful transaction and allowing yourself to gain experience by getting a win under your belt is more valuable than the Return on Effort itself.

I think it means 14.6% of the RE transactions in Memphis are flips.

For me I use; 2nd lien on target property or cross collateral property deed of trustJV agreementPromissory NotePersonal GuaranteeMay be over kill, but I am fine with it.Also if you ever foreclose on a property that has enough equity to cover your loan I assume the 1st lien gets paid and then the rest would go to the 2nd position or is that not correct?

He is working with several other operators to categorize transactions, reconcile accounts, manage late payment collections, pay vendors, generate end-of-month statements, P&L reporting, and other bookkeeping tasks.Nonetheless, happy to make an intro.

The only way I thought I could protect myself better in this situation if I were to decide to move forward would be to cross collateralize by taking a first lien on a separate property of the borrower.

@Schaan Donaldson this would be a prohibited transaction and could cause the entire IRS to become a distribution triggering penalties and taxes.