(But still a good deal)We are converting the house from 1 family to 2 families and the process with the city was easy.

As I'm researching properties for us, I'm left wondering how this transaction will go down and how I'd pay him.To make numbers easy, let's say we find a $100k MFR and we want to go in 50/50 on the $30k downpayment as well as the subsequent mortgage on that property.  

It wasn't super easy but it also wasn't that hard. 

Sometimes a bank has extra rules, we call these "overlays", but you should be able to find financing relatively easy without having to season those funds. 

Account Closed I would say as a beginning note investor that your question on returns is not an easy one to answer and the note industry is not like more popular real estate arenas like buy and hold or flipping where there's more literature and information to find out about it.

Foundation has several vertical cracks.Been vacant for a lot of years.Because - and only because - the inside is in great condition AND it's 10 min from major skiing, water parks, hiking trails, brewery, wedding venue, Adirondack trail, and some other fun stuff, I am seriously considering it and everyone in my circle is telling me to walk away.I've gotten quotes so I know the dollars for septic and foundation.

This should be a quick and easy question. 

It also lays over slight imperfections in the floor with easy and hasn't popped or shifted yet! 

The tee-time reference was the best part of your post and is actually quite probable and very typical.How people accept this as normal and explain away what should be extremely quick and easy is beyond me. 

It's to easy to verbally just throw out numbers with no time or energy into the deal.