In that situation, the loan documents usually permit the lender to "call" the loan.

I also like the idea of documenting any late payments so I can have that information in case I need to evict a tenant for chronic late payment.

Worst case you'll have to drive to your county office to search their computers for the notice of trustee's sale, notice of foreclosure or notice of sale document (the name of the document depends on which state you live in).This notice typically includes the homeowner name, address, date of auction, principal balance of the loan (or judgment amount), auction location, lender and attorney names.Good luck Newton! 

There will be more leads.As long as you are following protocol and using the proper documentation, I don't know of a legitimate reason (i.e., non-frivolous) why you would end up in court.

Ask the PM to send you their documentation on potential tenants so you can have final approval.  

If she is not a party on the Note (the debt), she will still have to sign the Mortgage (the document pledging the house as security for the debt). 

Even a skilled real estate investor can get themselves in trouble, and sometimes solely because they prepared their own documents.  

@RichardHave you asked your investor what he would like to see as documentation behind your plan?  

http://www.com.state.oh.us/documents/real_Salesper...

Hey Peter,Each hard money lender is going to require different documents and criteria.