I plan on a flip a little later this year.

My thought was, wouldn't it be interesting to get a loan from a bank as an investor in RE and then later buying that note as an investor in notes? 

I will admit, the post made it first sound like you are trying to buy the loans and in the later post it sounded like you might already own the loan.  

Additionally, there were plenty of investors who were heavily leverages in their RE investments in 2007 thinking life was grand, and a year later the sky was falling. 

But at the same time i just want to buy 10 properties and have someone start making the mortgage payments sooner than later. thanks again for your input it's greatly appreciated 

I will not be using property management (primary residence) but I am keeping it in the expenses in case I decide to use PM later on.Purchase Price: $470,0003.5% FHA- $16,4503 units (no rent control)Rental income: $3500 (actual) / $3800 (projected)Monthly P&I, incl. property tax: $2,825.10Total monthly expenses including vacancy, management, capex, etc. - $3,416.77Pro Forma Cap Rate: 6.06%Purchase Cap Rate: 6.15% 

I'll start off by saying believe in the power of CL (craigslist) I don't let a day pass   without utilizing that site.my advice to you would be log on CL search area's within a 2hr distance from you go under real estate fsbo filter your search with we buy house's or I buy ugly house's and investor special,once you find these ads start making phone calls,reason being these investors know their local market and have their hands on the pulse of that farm area.After dissecting all the useful info from local rei,I generally go to google streetview and walk the neighborhoods to have a better understanding of there market.Trust me it works I just closed 3 wholesale deals in Birmingham,Al using those same techniques,I was fortunate enough to find a we buy house's sign on a street corner zoomed in on the sign called the number and almost 2 months later the deal was funded.I hope this post serves you willCheers!

I received a contract a week after I finished and closed the sale 5 weeks later for $278k and after it paying off the hard money loan and closing costs I pocketed $53,359.I feel that this was a lucky first burn out deal.

Hi Mark, The payoff of a seller's note 3 years later is not considered to be a sale of real estate but merely a payoff of an outstanding debt, so it would not qualify for 1031 Exchange treatment at the end of 3 years. 

I was not aware of this until the wife called on March 3rd and explained situation and said rent was going to be late (rent is due on 1st and late after 3rd) but would be paid March 6th.