When I say it's a great rental property I mean that it's paid off a 15 year note in less than 12 years and always produced positive cash flow.

He surprised me by noting that, at least in the area he specializes in, which probably has about 3-400,000 residents, the situation for a newbie investor like me is grim.

My plan right now is to start out wholesaling (I am aware it will not be easy at all, marketing will be a sticky start.)

It would be questionable to whether or not the buyer would actually fulfill this note and it would be almost impossible to collect if not, but it's may be an option to get the deal done nevertheless.

Can you have issues, yes, a loss, not really, just the time to fool with the issues.If the deal is serviced, you're much safer as a buyer, note servicers will usually do CFDs.

page=1#p503503However, note that the subject of this conversation is on a full ride scholarship in an engineering program.

(NOTE this clause does not make FHA, Freddie and Fannie or HUD assignable, but clarifies things with a private seller).

I'm digging into technical territory on that and didn't take notes from my conversation with the attorney, but suffice it to say that it can't be gifted at the end.

Do I have to create a note?

Note - this is just to put offers on short-sale properties.