Providing them with ample notice allows them time to plan and adjust financially.

Then you have the full amount available to you, ONLY IF YOU NEED IT.3) Secure funding for the property using someone else's money. 

ya for full time note investors I suspect this is common knowldge like running title or getting title insurance on a DIL.. but it was new one on me. :)

If you hand write it will take more time.

.: Thanks everyone for your replies, it's in NJ, approx. how much time it will take for foreclosure process and how much I should be ready to spend on attorney.Once we hire an attorney, he will take care, or I also have to go court frequently.I am asking because I  have a job, it's tough to get frequent off.Trying to prepare myself for tough time ahead.Thanks again. 

Thats another key factor to be able to pull out your initial capital and the next homes DP in a shorter period of time. 

I am currently surveying the NC market for a 3bd 2 ba home that is predicted to appreciate over time. 

Just let me know what time works for you.

I charged 9% interest on each, and one already paid it off in full. 

Many times the applicant will tell or show you what they are supposed to receive, BUT many times they haven't actually been receiving that money like they are supposed to.