Get as much as you can upfront because the likely hood of it going through, is down in the single digits percentage % wise.

Also, I in my local newspaper they produced a daily listings called "[b]" which gives the particular about the property in Pre-Foreclosure and the date of the upcoming auction.

Michael,I have raised several hundred thousand dollars through newspaper advertising.

I DON'T think the ROI is worth the (expensive) newspaper ads or sending out flyers or what not.

So, today I bought a digital camera and called some realtors.

In such a hypothetical scenario, I would be a lender and invest in projects that yielded double digit returns, do so locally so I would have the opportunity to drop by the project and perhaps pick up some valuable education via hands on with the borrower.The other option would be to learn about notes and invest in some paper at discounts yielding double digit returns..

A cap rate double digits to me adds a lot of risk.

I also believe unless your portfolio is over double digit units you will not be able to afford a property manager. 

Problem is the second note is in the double digits for interest rate versus a seller held second you can likely get closer to 5 or 6%.Certain assets like commercial retail the market is strong to where  a seller doesn't have to hold any kind of second.You need to dig down further with your buyer to understand if what they are trying to accomplish is a pipe dream or reasonable.

(internet, social media, newspaper, print, business cards, networking, etc etc etc...).