The assignment assigns the Mortgage to youThe allonge transfers the note to youAs for due diligence :Are the notes Dodd Frank CompliantHow much are you investing relative to the current unpaid balance (UPB0How much are you investing relative to the current Value of the propertyAre there unpaid taxes on the propertyAre there any unpaid liens on the propertyAre the borrowers currentHave the loans been professionally serviced so you know the pay history and the correct UPBDo the borrowers pay on timehow long have the buyers been in the property, do they pay on timeAre taxes and insurance escrowedIs there insurance naming the lender is there a lenders title policy

I was looking into buying mobile homes but I will probably wait until summer passes.Bill, I realized that getting a cash out refi would be difficult...my original plan was to use the equity I add to the house to get a Home Equity Loan and go from there.

The difference in your bank account balance between paying a property manager 11.67% (10% of gross rents plus 20% lease fee) and managing the property yourself when buying one 20% down rental property (in Northern Colorado) over 40 years is:If you invest the difference in the stock market and could get 8%, the difference becomes:If you're saving for a second purchase, it delays when you can buy that second property which further compounds the effect of property management fees on your overall net worth.And doing the full Nomad investing model, it is pretty significant differences.I am going to write a whole book about the impact on various investing scenarios.

How difficult is it to find deals in Jax and around?

To answer your question its not only difficult to fund the right project but more important is finding a good borrower.

This trade or business requirement can be particularly difficult for rental properties to meet and is usually based on the extent of the taxpayer's involvement in the rental activity.

For me is was just an effort in this difficult sellers market to try and "make a deal out of now deal." 

If it has a high rental ratio, it may be difficult for VA, FHA, low down borrowers.Your choices are: Keep it vacant until lawsuit is over; Lease it and accept wear and tear after moving out.

I have never rented in Hoboken but it is difficult to ignore all the "for rent" signs on every single block lol.

You'll be behind two months in terms of your escrow balance.