Patience is definitely needed if you are trying to buy from a resident with no real estate experience.

I have opportunity to buy a small portfolio of performing commercial notes with LTV's less than 50%.  

That's the opportunity.I also recommend engaging an 'investment focused' realtor (not the general residential ones) to guide you through the process and provide you with market intelligence. 

Investment Info:Single-family residence buy & hold investment.

https://www.redx.com/blog/agents-dnc-list-tcpa-guide/For all of those who own property and are sick of these calls - report phone numbers here. 

Investment Info:Large multi-family (5+ units) buy & hold investment.

Spend a little more money than you might have been planning to, buy in a better area (i.e. not a “turn key” 100k house off the mls), and self manage.

It's the concept of buying the debt attached to the mortgage rather than buying the house. 

For example, a property in San Diego may lose $500 per month ($6,000 per year) but gain $60,000 per year in value, making it worthwhile to "lose" money each month in exchange for long-term gains.I recommend you start with BiggerPockets Ultimate Beginners Guide (free).

i would not buy a random property in Alabama that you find on Zillow and turn it over to people you've never met just because the price point is appealing.here are some threads on how that can go:https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/12/topics/1215726-break...https://www.biggerpockets.com/forums/48/topics/1137397-balti...i own property in 3 states - happy to answer any questions you have.