They will buy a fixer at a slight discount that is not enough of a spread for a flipper to consistently make money. 616 Q street in Lincoln is interesting.

Not much.As outlined, you appear to be paying for a headache that will consistently lose you money.  

We are certainly experiencing very consistent appreciation, but it is not superficial.

I'm a firm believer that marketing is 90% of the business, and the key to marketing is consistency.

Ultimately trustee sales have risk to them but with proper due diligence and research can be one of the most consistent ways to scale an investment company. 

However, I have seen many short sales where their actually was equity in the property and the shortage consisted the past due payments, a real estate commission, attorney fees and costs from the foreclosure process, court costs and closing costs. 

WF on 3 occasions told me different versions of what their HELOC structure consists of.

This would consist of 3-5 people (ideally in the bay area) that are very serious about accelerating their real estate investment goals and learning.  

Eventually I'd like majority of my portfolio consist of notes.

Are those terms consistent with your experiences, or have you seen 80%+ LTV?