@Christopher WinklerI am no expert in this area as my focus is on 1st liens, however, my understanding is that the lien portion of secured junior debt can be stripped in a BK case, rendering the debt as unsecured.

Go knock on doors in an area where you are interested in investing in and become an expert of area rents, house prices, inventory and what other investors are doing.As far as meeting local investors I have met lots of friends through my local BP meet up which meets once a month.

I'm curious too, so I'll call some expert advice to bear for clarification.

Brooklyn is hotter than hot and will continue to be that way for years according to the real estate "experts" I met with at the NY Real Estate Expo.

But it's soooo under the radar above a certain price point, I can't pass on the opportunity.I didn't think of seeking out local experts on the matter, though.

Granted, besides a few duplexes I only have 1 x 4-family and 1x 3-family so I'm hardly an expert, but here are a couple of my lessons learned with regards to 4-plexes:- If possible, assign parking spaces and make sure everyone knows the plan.

I will bet that is true in California as well but I am no expert on California law.The exception to this is " if the seller instructs the broker otherwise".

I'm certainly not an expert at this yet (though there are a lot of people here who are), but as I see it, the general outline of the steps is: 1.

Better to pay an expert a few hundred to do a thorough job.

Become an expert on specific areas.