I purchased the property with an FHA loan at 5.25% rate but plan to refinance once rates drop (if they ever drop lol).

However it seems that things are changing, even if housing prices settle out in the coming months and years, they still are and still will be at record breaking highs, which has left my generations purchasing power significantly lower than any others.

What is the purchase process like.

I plan to use Asset Based Mortgages to purchase the properties. 

Looking to purchase in the suburbs though.

There are cases where certain portions of the NNN Expenses are capped at increasing more than a certain amount over the previous year which is another thing to take note of when purchasing an existing asset because if the NNN's are capped then the owner runs the risk of absorbing a portion of the Operating Expenses which ultimately kills cash flow. 5.

The process of purchasing a property takes a little time, but typically less than 60 days.

If not, you may be better off selling and purchasing something else. 

If the lender defaults, will the fact that I purchased the loan as an individual with no licenses compromise my capability to collect/foreclose? 

This was not unique to a specific lender but some made the process easier then others for sure.Anyway, I am now approaching 75% LTV (based on initial purchase price) for the last investment property with PMI so I reached out to start the process and was denied with no explanation.