Monitoring this topic!

GPS is your friend. :)

So long as the partnership capital accounts are properly monitored and the bylaws of the LLC are strictly adhered to, I don't see how this could be penetrated.  

People don't usually worry about Gift Tax, and it is not an area that is closely monitored by the IRS, but it is still the law.Also, it is less likely that he would face a problem with selling you a fractional interest for exactly (or close to) what his basis is in that fractional amount, because the fair market value of that fractional amount is lower because the debt has reduced the amount of equity you are actually buying.  

I want to target performing notes and monitor them if for any reason one to go non performing to start the forclosure process to make sure I would be able to take title (if it ever came to that).  

I am still monitoring the two defaults in my portfolio and looking at the process the portal goes through as well as the ultimate results in terms of recovery and length of time.

Police are in the area monitoring all the time and some days its a mess.

The most obvious being to:1. use MLS data for sold property from at least three realtors that includes: list price, sales price, days on market, cumulative days on market, beds, baths, to see sales trends/DOM2. walk a LOT of property that is currently for sale3. drive by a LOT of recent sales with comp sales info in hand4. spend a LOT of time MONITORING (not just looking at) Craigslist to determine rents5. reviewing sites like www.rentometer.com to check/validate what I saw on Craigslist6. reading the local paper for several months regarding local trends and events7. and reviewing the target market on sites like http://www.neighborhoodscout.com. 8.

Credit wise is a credit monitoring feature offered through credit cards - I know Capital One offers Credit Wise with Transunion scores.  

I'd take my chances, not pay them, and then monitor my credit report.