There are a few notes that we are interested in and would love any advice you have on how to proceed with them.The first note is being sold at 60% of the UPB for the second portion (12k for 20k loan).

From what he td me he wants a significant portion down like 25 to 30 percent to have some skin in the deal, and charge 6 percent for two years.

Separate from the equity portions above.

The deal is he brings a portion of funds and shares profit, but the property will be in my LLC name.

Many members withhold portions of security deposits where applicable, pre-lease units, have little to no vacancy, don't pay lease-up fees, use hard surface flooring, only pay a few hundred dollars to paint a unit (if even needed), and then swap out a rotating lock set....whereas other members have thousands in vacancy and repairs.

Though they are saying they would pay me all the previous months; portion of the rent.

They also only tell a portion of the story.

@Shawn Ward , all of those steps are vital to starting out. 2 and 4 stick out to me the most.

I am trying to coin the term "Holistic Property Management" to describe looking at all the parts of property management and focusing and optimizing each portion to return value to investors. 

I have done these a few times (as Escrow in Cali) and they are the best way to keep the IRA portion of the investment safe, from what I know.