If I have to take care of borrower paying on time keeping his insurance current etc, i would rather buy property then notes.I see the point you are making and that's the reason I want to check and make sure how the company is overall and someone experience with them.

Although its not adding to my income, my personal housing expenses are less allowing me to save more for future opportunities, and as others have mentioned, as a newbie I cut my teeth on all the nuisances of rental property investing. 

You need to check out anyone you plan on giving money to very carefully.3.

At this point, you kind of don't care about past repairs or their costs because the seller isn't going to be able to provide it. 

My business partner has also had partners that have tried to cut him out and go behind his back to his trading partners.

Yes, I've Googled - but I couldn't find anything cut and dry.2)  Are those good terms?

I would cut them slack this one time.

or once I establish LLC then I can use my personal fund to take care all that?

If the owner cuts them at any other time, for any reason, no matter how long he’s been with them he’ll pay the fees.

I'm working with a design/build firm that takes care of everything  for the most part.