Its educated gambling..... and you may hit a grand slam...or you may get punched in the nuts...... its personal decision on your risk tolerance.Sometimes that huge leap of faith and "screw it, I'm going for it" can reap huge rewards....and sometimes it doesn't.For every "I bought it sight unseen and its doing great", I would easily bet there are dozens that have been totally screwed...some of them don't even know it yet.

Lawyers would obviously be involved. 

I’ve never dealt with this situation but I agree to step it up and involve a lawyer immediately Hopefully can recoup your money faster and move on

I would bet that once you get an attorney involved they will lose interest when they learn the property doesn’t have clear title. 

Hi,I was just trying to know what may be risks(hidden) involved with private lending on first lien.I hope there must be many experienced investors and lenders here...if you guys wants to share your experience..Thanks 

My boss/owner of the company would not get upset and actually encourages me to get involved in various groups and organizations in town knowing it will take up some work time here in the office.It obviously costs money to take the course and exam, then I need to find a brokerage to hold my license, correct?

I bet you can do better elsewhere:) Happy investing!

That method involves the most risk as you have to have the market move in your direction, you then have to overcome the negative cash flow while holding and you have to overcome the cost to buy and sell the property.  

Even the 1% rule / test / whatever is a dream.Your best bet is to throw out all rules of thumb like that and learn what the averages and norms are for the market and price range you're looking in.

I’m guessing your bud doesn’t really know what all is involved in getting to a closing......hence the ease in which he thinks he can simplify it.