3: At what point would I need to contact an attorney and/or an accountant for my investments, I want to cover myself but also not spend excess money?

In my opinion it's not worth the risk of losing your shirt by not knowing the actual numbers.ARV - Repairs Formula:  $200k (arv) - $75k (repairs) - $20k (carrying) - $40k (profit) = $65k (67.5% off)% Off ARV Formula : $200k (arv) * 50% off = $100k (You would lose your shirt)

I don't really want to lose more money on property.

Any excess spending on an already 'rent ready' rental vs. buying another rental may be affected by whether or not is makes $en$e -- effect on incremental CF.

Customers who find value in my service are happy customers and I don't lose a lot of time over haggling.

. $250k - $500k tax-free money is nice, but losing almost $50k just to sell the house may not make financial sense.Cash-out refinance or obtain a HELOC on the property prior to renting it out might be a good idea, but it seems kind of late now.

My only hesitation is that, here in Michigan, I have to work under a broker for three years before I can be a broker myself (losing valuable investing time).

Mistakes will be made, but you'll lose more money sitting at your computer just reading about real estate every day and not going out there and doing the damn thing!

@Pari Thiagasundaram  lost note is no big deal like Dion said. other wise they have no note to sell right.. if they lost it what are they selling  :)  there is probably a LNA which should sufficecrap I lose notes all the time .. at one time I had 400 HML s out... were I was the bene.. bound to lose one  :)  not sure then why anyone would sell this note with such a small balance  unless it was subordinated and its really a very junior lien

That video doesn't represent anything other than a hot Sunday afternoon and a few people losing their temper - or their minds, whichever you prefer!