Regarding what Kevin Dickson and Joe Fairless have said, verifying the law can be difficult.

The judgment recovery company goes through years of time to recover some of what's owed and it's a grind.You can sit on a judgment and it keeps growing and you renew it depending on state laws until one day the debtor has the ability to pay and possibly contacts you for a settlement.The 50/50 is the judgment company typically spends their own money and what is recovered over time is split 50/50.

I would also check your RE laws in MD.

It's nice to know as an investor that your numbers are correct carried out to 8 places, for those doing mortgages, it's a matter of law and regulations.Whatever you find, I suggest you check your figures to a calculator that is known to be compliant, many are not. 

@Michael Campbell,Real estate agency might tell you it is illegal and try and shovel some law down your throat that it is illegal.

State law has provisions for the change of ownership. :)

Some people have bad feelings toward Realtors, so I usually say it something like this: "oh, by the way, the state law requires me to tell you that I am also a Realtor".

By CA law if they've been there more than a year, they get 60 days notice.

@Andriy Boychuk,When someone try to advise you on the note laws make sure you ask for references or better talk to a lawyer.

Keep in mind your state usury laws and if the buyer is going to live in the property, I would suggest you avoid such an owner carry to avoid the new DF (Dodd Frank) laws and pitfalls that come with it.The question really is, what king of return can you get in another passive investment?