This depends on your agreement and whether you are hypothecating the note (meaning you own the note and are borrowing against it) or doing a partial where you are selling that portion of the note and issue a collateral assignment.When i did partials I did it as a hypothecation where I kept control of the note because those who typically buy a partial are not savvy note investors and if it went into default the first call they would make would be to you.I know some who let the buyer own it and they would be calling the servicer every week asking about payment or emailing the etc. then if it did not show up they would be calling them.How you structure it is up to you, just realize there are pros and cons for both hypo is the way to go.. also the OP might just check with their personal banker if by chance they bank with a small community bank..

That approach seems like it would reduce the chance of deals falling through, and I can understand why it would be standard practice.

I did jump to conclusions as my emotions got the best of me when I did not hear back from Lacey.I had the chance to speak with Lacey this morning and also Scott at RTR.Lacey had some family emergencies she was dealing with as a result of the recent hurricanes.

Even the best agent has a slim chance of converting even one of these leads to a paycheck.

You don’t have to skimp on the neighborhood or the quality of the house, but if it is a nice little 3/1 or 3/2 single family home in nice condition with no deferred maintenance, then your chance of making a mistake or getting hurt financially while you learn is limited.

If you ever have to go to court on something like this you will be in the odd position of being both the landlord and the tenant, so I would leave nothing to chance or interpretation.Personally, I agree with Nathan - I'd have real questions about any potential tenants that were OK with this kind of arrangement. 

Despite this, I am still led to believe there's a good chance you are misinterpreting what was written in the book as well. 

Hello @Kenji Tominaga,Agreed with @Chris Seveney regarding having the owner offer cash for keys.Since there aren't many options on the market that can compare to the deal you have in place, I'd recommend waiting it out (if possible).Chances are, the value of the subject property will continue to increase while you wait for the tenant issue to be resolved.

Absolutely, I would love a chance to work with you.

When the sky appears to be the limit, do not take extraordinary chances.