In my example, a "window replacements" work didn't include all the relevant aspects (that I had no idea are needed, I understood that "replacing a window" means replacing it from A to Z).

Have I understood that right?

The SPD is required to be written in a language or format that is easily understood by participants.

From what I have understood so far, you would first make sure that the lender allows for the contract to be assigned.

I will say after getting in to the class I understood why some of my other real estate friends/colleagues encouraged me to take the class in person.

With this understood, I am looking for networking opportunities in which  I can learn perhaps attend an auction or two and give me the 101 on the area and a few experiences, good and bad~ not SPOON feed me.

DD then is to exclude each time as a possible risk, or determine the impact of failing the investigation.eg:  numbers show cash flow;  go/no-gounit properly zoned for my intent;  go/no-gocan't get title insurance or clear title; - - puntall encumbrances (2nd, 3rd, liens) understood and declared; go/no-gocan I market/rent at FMV and make a profit; go/no-go roofing; $$$foundation; $$$plumbing, including sewer line inspection; $$$heating & cooling equip; $$needs paint, just a one time expense $broken window, awe heck, smallish, one time expense $go thru the list and PUNT if the pain gets too much(expensive) OR make an offer if you can live with it.

The ones from the Philippines understood my scripts and my business model.

Inspection and terms are understood, appraisal, good relationships with Title company, insurance agent and mortgage banker should not be a problem...

I just wanted to make sure I understood what you meant by that.