View the CA Probate Code link for a better understanding: https://leginfo.legislature.ca.gov/faces/codes_displaySectio....Yes you can purchase any probate property (to my understanding) without the confirmation process.Just remember that the nominated Executor in the will would have to possess Letters Testamentary.If there is no will then the Administrator would posses Letters of Administration.For free probate leads this is he webpage I use for N CA (certain counties) and can also be used for Arizona (Maricopa County only) https://www.legaladstore.com/frmMain.cfm or find potential probate leads from this publication: https://www.recordreporter.com/rrhome.cfm?

The cost to join is nominal but well worth it.You might also check out the Best Conference in Salt Lake City starts April 10.LFI has a one day full day LP presentation the day before the Conference on Tuesday April 9.This would be a great place to start your search.Good luck.One word of advice is you come across a deal where the GP is promoting 8% cash on cash 20% IRR, I’d be very skeptical given the current debt market.

In Regards to the AFR, yes you are right there will be an IRS tax implication if the rate is below the AFR rate (which for non-federally subsidizes housing is 3.75%, I think) That's a nominal risk, and is offset by the income/cash-flow from the property.

The opposite is also true, banks don't like lending money to borrowers that NEED it as too much risk.You may want to get a nominal HELOC on your current primary for use in case of an emergency.When can you buy another primary with 5% down?

My thoughts are a nominal increase will not replace the cost of vacancy.  

The cost of UDFI is generally nominal, and should erase only a small fraction of the boost in return that the use of leverage creates.So:  Make an all cash purchase and receive 10% return or make a leveraged purchase, pay tax on UDFI, and make 13% return. 

Nominal no value in refinancing.

His data shows that the nominal home price index increased by 88x from 1890 to the present.

There's a nominal fee for filing as a foreign entity doing business in SC (a couple hundred $$ I think).

Many times, this dissuades ALL bidders and the lender buys the property back for the minimum bid which is a small nominal amount.