My goal is to work part-time and supplement the remaining income (I worked full-time prior to having my son) with rental income, and also building up my number of rental properties yearly.

Karen,, from my knowledge,, prior to the safe act.. to do hard money ( private lending) in CA you needed to do that through, or as a RE broker. a RE broker can do these loans ( I am one and can do them) and an NMLS licensed LO can do them without being a RE broker..

We learned this the hard way when my brother-in-law died suddenly prior to us having an LLC.

However, the condo docs state that they have the right to purchase on the same price AND terms and unless they are notified prior to closing date and close in 1-2 days they wouldn't be closing on the same terms as my contract.I'm not really concerned about losing my inspection costs on this.

During the time prior to a lawsuit being filed, the owner of the property can purchase a bond in the amount of the lien to effectively remove the encumbrance until a judgement is finalized.

There can be no health and safety issues, if the appraiser notes issues or issues show up in photo graphs underwriters will condition for repairs to be done prior to funding.

@Zach Schwarzmiller Correct me if I'm wrong, but shouldn't people keep in mind that you have to work under a broker for two years prior to being able to go off on your own (here in WA)?

Anybody else I should build a strong relationship with prior to working the first deal?

Like I said in a prior posting somewhere else, why split cash flow from years 5-10,15,XX with the Bank through higher rates if you can buy it yourself today on the cheap?

I've leased to prior LLs, both very good, I didn't view it as a danger at all.