Quote from @Danny Gonzalez: @Paul CijunelisSo I’m not in the IL market, but I’ve owned a PM company for 5+ years, and here are some lessons I wish I’d known when starting out:1.Hire a VA Early: If you haven’t already, bringing on a Virtual Assistant is a game changer.

Most seller finance notes have interest rates in the 9-10%+ range.Also, 5% down is very little skin in the game for the borrower.

I am new to the real estate game.

We are late in the game but hopefully we can catch-up leveraging the plethora of knowledge that exists on this platform. 

Congrats on getting in the game.

If we buy this loan, we need to have a thorough game plan on how we are going to be resolving this and understanding these dynamics is key to managing expectations and protecting investments.Sounds like a deal more for someone that buys partial inheritance estates and spends years piecing it together than a note investor.  

How come you don't see the excitement you could have, of asking yourself all those questions at your desktop, if only you had some skin in the game?

Refinancing game is tricky.

Be in a location that allows short-term residential rentalsIf the residence does not meet the standards for a conditional use, they cannot be waived.Any STR must be owner occupied would be a game stopper for out of state investors.

This is my first property so of course it's harder to keep my head in the game with %100 vacancy.