That is pretty typical standard operating procedure throughout the country.  

Be aware that there are other California code regulations that also must be followed.Most states would consider the sale of fractionalized interests a securities offering, not have a specific procedure for it other than the general securities offering procedures. 34 states have adopted exemptions for private placements similar to the SEC general exemption for private placements.

I'd add that you want to be very clear with roles and responsibilities and have clear procedures in place.- Formalized call lists for vendors for issues- Standardized service levels for owner clients- Generic email templates- Standardize interactions for comping guestsetcAs I was telling one of my team yesterday, we want to have as little to keep track of as possible.  

On the smaller banks...like a hometown bank...I'd just call and ask for asset manager or loan department and start from there...90% of the time 1st person who answered would point me to the right person.....who would then talk to me....and either tell me how to make offer, or tell me their procedure and who would be getting the listing....then your buyer's agent makes an offer to/thru that agent.What is your idea for contacting them? 

Train every person in the company on their procedures and how to use the system.

3) All self-directed IRA custodians have similar processes and procedures regarding buying and selling real estate.

You could make your quiet enjoyment clause have a corresponding requirement that the tenants must abide by policies and procedures for reporting grievances and repair requests allowing you some peace.  

11 times out of 10, unless they are in a bulk portfolio OR its a small local bank or credit union, you are wasting your time trying to buy REO before its gone through the company set procedures and listed with an agent.

We've been doing that as standard operating procedure for years.

Better policies and procedures?