The borrower didn't even recognize me and wasn't happy to learn he was getting much less.

Some have acquired private lending after taking time to network and build relationships but these lenders will more likely than not still want to see a proven track record before lending you any money.Just about everything you would like to learn about Real Estate Investing can be found right here on BP.

Hard to recognize people by their thumb print pictures on BP and you weren't wearing your hat.

I'm not sure how to recognize CA every time a RE comment is made, I suppose saying about 90% of time should do it. :)We can start another thread on settlements if you like.

Guilty until proven innocent?

RE math is not difficult, what can be difficult is to know when to divide instead of multiply or how to set up a simple equation, recognize the proper way to set up the math problem.Can you sell ideas, concepts or things?

It is very important that you deposit those payments as soon as you get them.The money received is income and as Brian pointed out, the amounts may be deferred as income is recognized later on an option, but rents are recognized as received.

Sure would be nice to have a clear cut answer to that, but there is not.There are too many variables involved, remaing term, credit, seasoning and proven payment history, collateral, loan to value, property condition and the details of the contract including the security assignement and foreclsoure process.Best to get bids, and look in your area for other investors, including those who buy RE, your best deal might well be from a local individual looking for a good investment.

Though according to the linked article local judges don't recognize daily fees if it goes to court, or at least in 2009 that was the case.

If you're getting a loan, have you proven that you won't have any issues getting the loan on a property that is distressed (most conventional loans will require the property to be move-in ready)?