Also discovered they spend a lot of time drinking. 

Hello BP,I feel that I am at the information overload stage from all the amazing stuff I've discovered on this site.

To the contrary, most private/hard money lenders (i.e. non-institutional lenders) can usually close in a few days to a few weeks.  

@Chris ClothierThe signs of foreclosures are reappearing in the states I frequent, also many properties were bought by institutional investors, so I expect a huge buyers market on the horizon, if you do it wisely.  

Ultimately it was your responsible to discover the house was in a sinkhole when you bought it.

I discovered BP a while ago but didn't really get involved until recently.

Those little things become challenging because many financial institutions do not understand the concept of a self directed IRA or any type of retirement plan owning private companies.

@Wayne Brooks @Marty HappleSo, are people knowingly selling worthless notes and leaving it up to the due diligence of the buyer to discover that the note is indeed worthless? 

I've discovered that it takes a tenant with an average iq to, to handle a gas serviced house :)

Lending institutions qualify you for loans based on Fannie Mae and Freddie Mac regulations.