You won't need an allonge, an additional paper added to the original note if there is sufficient space on the note for the endorsement, after a note gets passed through several hands, that space, if there was any, just runs out and then you would attach an allonge for endorsement.Unless you have the maker(s) execute any other terms that may be added by allonge, as many brokers like to get wordy and write things, it will have no real effect.Notes are negotiable paper just a check or draft and are governed under the UCC requiring an endorsement, "pay to the order of" and thereafter you should annotate "with/without recourse" as the assignment and endorsement are made with recourse or without to the new holder. .The sale of a note must have an accounting of the transaction, describing the note and the amount received/paid along with other costs or expenses, if any.An assignment of mortgage or assignment of note and deed of trust is made, it simply describes the original note (not the balance) when it was made and contains the legal description of the collateral, this is filed in the property records for that property.

I suppose if it's cyclical, and the worst doesn't come to pass with the stock market or the jobs/wage situation or government debt causing a meltdown, then I can just weather the storm of a 3-4 year price drop because I would still be paying down debt on an annual basis (and inflation would be helping me).Thoughts on this?

If you were to hire a property management company to handle both the properties and turn the whole thing over to them, they would get the rents up to par as quickly as possible without you first having to sort through two states' worth of regulations and second having to convince mom and dad to take your sage advice.The issue with the Florida tenant's rent payments might be your angle in pushing property management.

And most lenders sell their loans to Fannie Mae, or want to have the option to sell them to Fannie Mae.A private money lender seems to be the best solution for this problem.Note that a government loan (must be a primary residence) would settle for a 3year waiting period (after the Deed to the home went into the bank's name..)

They are interesting to read as they show the history of the property, many going back from government grants.

I have found 90% LTV FHA/GMA type lending but am hesitant as it deals with the federal government, and I am still learning their 'rules'.Any suggestions on finding private money lending would be more than helpful.

(B)That the Tenant/Buyer will not use the property for any unlawful purposes; and that the Tenant/Buyer will conform to and obey all laws, ordinances, rules, regulations, requirements and orders of all Federal, State, and local government authorities, agencies, departments, bureaus, boards or officials, respecting the use of the property.

They might have certain regulations. 

These programs are put on by the government such that lower income individuals who otherwise would not be able to buy a house, now can.

From what I've read (I forgot where so correct me if I am wrong) with the regulations required by the SEC for crowd funding it costs $30,000 for every $100,000 raised in reporting requirement costs/costs to meet SEC regulations.