Did you pay an auction premium like Auction.com or is the number you bid the final number plus recording fees? 

I've always gotten a signed "authorization to release loan info" from the owner on record. 

"As public records, the contract forms adopted by the Texas Real Estate Commission are available to any person."

.- China is issuing record debt to stave off recession, while the US bull market continues (Wallerstein).- Texas vs California Home Construction.

(virus lockdowns, natural disasters, record-high interest rate hikes, etc.) 

Nothing is truly "passive" and a big misconception with new folks wanting to enter the real estate arena.For example, just bought a 6 unit using leverage and trying to secure a loan was a disaster of a process.I can only imagine what others have to go through on every time they purchase a property using leverage.But then again, I'm bias to the "cash only" approach.The constantly changing conditions, terms, keeping tight bookkeeping records and tax returns in order and regularly manipulating the BS credit score algorithm.Placing good tenants is more a skill then hope.It took me 10+ years to fully wrap my head around using leverage the right way and being able to "manipulate" the system to get better rates with a quicker turn around.Keep being great thanks for your reading and replying to my comments 🙏

2) What percentage is their track record of delivering what they promise to deliver?

Is worse than bad credit, criminal records, or low income.

Unless of course this person you lent money to divulged that the loans were junior position or if he said they would be recorded and were not.

.✅ Investors - Keep detailed records of ALL rental property expenses to reduce your taxable income - helping your CPA spot additional tax saving opportunities.Imperative to use a CPA who is well versed in Real Estate tax code.My CPA is just that - DM me to get his contact information....