Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

I've always wanted to see if he's on title and owns his home or what the story is. on another note, where is your airbnb in miami?

One important item to note about bids: most smaller contractors are terrible at estimating.

Originally posted by @JC Wu:@Nicky Reader@Jay HinrichsIt's interesting that both of you brought up notes.

You'll also want a lawyer to draft up the docs for you and register your mortgage on title of the property being lent on along with the promissory note.  

if the second buyer is paying cash then your done they pay your off and your first note.. off to the next one..

You can learn these things over time.Take note, Due on sale clause isn't even one of the main concerns.

Quote from @Andres Lasaga: I am in the process of selling a property to the tenant I have been renting the house for 4 years.I want to outsource the promissory note collections and reportsIt would be only ONE property, for now, any recommendation of a company that can manage the collections and reporting?

Find the REIA group for your areaAs Henry noted, post something specific for your area and tag your market.Get on Loopnet for your area and property type, reach out to the brokers that are listing deals and offer to take to coffee (they are often invested in deals too but you could ask for connections to other operators that might be getting started).And, again as Henry noted, each person you meet, ask them what other networking events they have attended that you can put on your list.

curious how do they structure a note purchase that is not all cash. did they already own the note and just sold the note to you or something ?