A while back, I attended one in San Diego County.

A few recommendations - learn as much as you can from books, podcasts, and attending free or low-cost real estate investor meetups in your area (in-person is best).

Hello, I have purchased 4 different asset manager lists over the past two years, but three were ineffective with outdated information and many email bounce-backs or returned mail.The best list I found was at RealEstateTargetdotcom; I did a successful snail mail and email campaign, and picked up three new banks and an account with LPS.I also cross referenced names on the list to see who was attending or speaking at various REO conferences, and made efforts to meet asset managers in person.

I'll be flying out later this week to see some properties and to network at a local RE event. 

For meetups, you want to check the events forum here and places like Meetup dot com.

Cons are the liquidity event that your parents will have to do to purchase the home (I assume the funds are in some sort of investment today so there's likely some tax ramifications on cashing those securities).

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

If you don't want to make so serious money than don't,  take these chances and keep reading the books and attending the RE meetings .Get a great agent and investor savvy contractor and make $50,000 fast!

., say they all get abducted by aliens or some other very extreme event that would cause a default) then you gain the amount you've invested (or potentially greater) in equity in the company so there is some security.

I attended the hearing/meeting.Basically, he was able to prove that the property was a two family/duplex since the 1950's.