This is a great place to learn and to connect with people so take advantage of all the great resources.

Some questions for the people with experience: What are some basic landlord problems I will most likely run into?

Are there any local meet ups or websites on where to find more people who have a moderate level of experience meaning they are  somewhat experienced but still looking to collaborate and network with more inexperienced investors like myself.

So they would first payoff the first mortgage, if there is a second then $ goes to the second and if anything above that goes to any other lienholders or the homeowner.There are a lot of people who invest in 2nd mortgages because they are cheaper than a first, but in Ohio (not sure all counties) you have to pay off the first at foreclosure so if you do not have the money to pay off the first you are out of luck. 

James and his people who manage the program are nice and give basic sales and negotiation advice but not much that moves the needle in any situation.

I really feel this is helping people find affordable rentals.  

And, I think its fair to say that we all may forget what people say or the information they provide, but we all never forget how someone treated us and made us feel! 

In regards to your offer, I am always willing to learn more from people who've been there and done that. 

A4: If you pay as “friends and family” – then yes, need 1099s.Q5: I only need to send 1099s to people, not to LLCs, right?

Do you guys ever take the risk of buying a foreclosure at sheriff sale with the previous owner still living in it? How do you calculate rehab cost given you can’t look inside?