There is a local REI (GLREI) in our area and we attended one of the events and were really thrilled to see how many investors were so willing to help and give great advice!!  

Liability is for events not property.

Yep, transactional funding occurs at closing in order for the Seller to be paid, BEFORE it is on-sold to another Buyer.

There is definitely some problems that occur when you are licensed and marketing to buy homes.

@Chad Urbshott The assignment of the foreclosed mortgage actually occurred during the foreclosure, prior to the Final Judgment, which is typical.  

Has anyone with MF properties considered installing a camera system to capture events that happen???

They are pretty good at knowing how to package and upsell their programs and yes, their goal is to get everyone to the $20K event.  

http://www.meetup.com/BoiseInvestorGroup/events/dbvfzkytlbrb/You will love BP!

Although it's not as important as Senior Lien status, determining equity doesn't necessarily drive the outcome of the deal but it can protect you in case of default.For either 1sts or 2nds you can also look at where the property is located to determine foreclosure timelines as well, which could be important in the event of a default.

For example the way I see Real Estate Investing, is 1) set an income target, 2) calculate how much real estate units you will have to own free and clear in order to reach that target 3) Grow as fast as possible to that point by leveraging and maximizing your ROI (thats where your calculations will show you that 30year mortgages are better) and then 4) start the pay down process (this is where your interest savings will occur like using a 15 year mortgage)I hope I helped