I've never understood if anyone actually bought property that way and actually got what they thought they were buying.

After reading this book, I understood how to basically evaluate a 'deal':What Every Real Estate Investor Needs to Know About Cash Flow...

I understood it was up to code.

The IRC, if used and understood correctly, is the closest thing to a comprehensive 'how-to' guide... not the easiest to jump in to, but anyone who wants to engage in construction related activity needs to have this resource and know how to use it.If you're still using 2006, you need to check your liability.

@Timothy Riley Fear of having a mortgage is understood.  

BUt in general, the volatility of the boom and bust are more easily understood when in context like this.

I will definitely be using a title company as I want it to be least complicated and easily understood as possible for both myself and the seller.

At least, the ones I have understood have worked that way. 

While sub2 always has risks on the seller side, there were things that he could have done had he gotten legal advice on the purchase agreement or understood how mortgages work.

I am starting in Lewiston/auburn area in Maine and I have been listening to the bigger pockets podcast read the books and attend some webinars and I am telling you that I understood a lot of stuff that I wouldn't know without this great website!