People are imperfect and things like late payers is something you deal with in your approach to managing properties more-so than in the vetting process because if tenants were perfect most would be owners not renters.

@Kevin Lorick are you getting a monthly Owner Statement showing how much they collected and what was deducted?

@Kyle Deboer if you reach out to 1000 owners, you can expect 30 to respond and 3 to be actually thinking about selling.

We don’t co-mingle funds, using business money for personal expenses…we can do owner draws and owner contributions in and out of the business checking account.  

I have bought off market deals direct from owners, from wholesalers as both a dual closing and contract assignment, and of course listed deals.From the surface, this sounds a tiny bit shady, but not over the top.  

@Kenneth P FordRecommend 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.

If it doesn't then I would give the previous owner their portion.

Talked to a few owners myself too.

Any ideas for what I could/should do next to capitalize on all these messages from potential owners with properties to sell?

The notes are all on commercial properties (office, warehouse, shopping center, mixed use or sometimes multifamily)The properties are either vacant or occupied by tenants, not owner occupiedThe property value is usually higher than both the UPB and the legal balance, sometimes significantly higher than theNow it is important to mention that I have very little experience with issuing notes and buying performing notes.