Owners will often play the role of the bank if you ask them to.

I think this plays a big role in many millenials' thought process.

My real estate agent met with the sellers and took pictures of the property, and helped secure an end-buyer, making it unnecessary for me to ever view the home (other than pictures).Other Recent Posts by the Professional Investors GuildThe Role of Fear in Real Estate Investing - Friend or Foe?

That will play a big role in this decision. 

I would also request rent roles to verify their information is correct also verify the tenants leases make sure the information is crungruent to the information provided to you.

My partnership is set as such...We split profits 50/50My role is marketing, acquisition and disposition.

I prefer 1st position notes but certainly understand how others like and do well with 2nds.Initially the concept was very foreign and I often thought 'wait, so I am buying someone elses debt and playing the role of the bank?"

It states that: [T]he corporate form may be disregarded and individual shareholders held liable for corporate misdeeds when (1) control over the corporation by those to be held liable was so complete that the corporation has no separate mind, will, or existence of its own, (2) control over the corporation by those to be held liable was exercised in such a manner as to commit fraud or an illegal act against the person seeking to disregard the corporate entity, and (3) injury or unjust loss resulted to the plaintiff from such control and wrong.The test is conjunctive and requires that the plaintiff can satisfy all three prongs of the test.

I recently cancelled escrow because based upon my due diligence I would not have been able to exercise the strategic investment model I was seeking to do.  

Then I would lease the property for $3000/mo designating $2000 payments to the loan and $1000 to the seller until loan is paid off (approx. 9 mo) at which time, I would exercise my purchase option on the balance.