Hello all,I've started compiling a list of issues to check for when performing due-diligence for a performing-first lien note.

I've been very close to making a deal with someone out of state but they backed out I'm assuming because they could tell I was brand new to the business and didn't have a lot of knowledge in the field. 

How have these smaller buildings performed during earthquakes in recent memory? 

(there is a reason the property is cheap, and that's because you will probably put in a lot of sweat equity collecting rents and dealing with residents)On to the actual management and what to expect .As you are discovering that closing on the deal is just the beginning, now starts the real work: Getting the property to perform consistently and provide you with cash flow!

The likelihood is that he is going to not perform, trash your property (what's he got to lose?)

If you are a principal broker with a brokerage then you should be getting the commission.If you are with a brokerage your broker is responsible for all real estate related activity you are performing however if an agent goes rouge that is not a brokerages fault but the agents for not reporting.

., for trash removal, elevator replacement, roof repair) the investors get a great price and excellent performance.  

The fee ranges from under $50 to over $1,000 with no requirement to justify the fee based on work performed.

They tend to be very long-term tenants if they don't perform and are frequently interested in buying.  

I also owned a Home Improvement company for 11 years and then from 1996 to 2010 owned a mortgage company then started rehabbing homes again for several years until I started buying non-performing notes.