We also dealt with this in the City of Chicago.

.... review the borrower's exit strategy! 

Or, if I  sell $500 of a $600/mo payment, I'll create a Ammortization schedule for the borrower and their payment comes from the Servicer.I prefer to use the Partial method and also Collateralize the loan. 

Find a knowledgeable and trustworthy broker in your market that can shop amongst the various providers and find you the best deal while still making sure you have the protection you need.

I have a good number of off-market properties that meet this requirement.

The big thing is to get started with a good, quality property.

How's the cashflow going so far?

Man, thats awesome, I would love to start buying at PreForeclosures, how did you find the lender?

The credit committee is usually made up of local people who are familiar with the market they are in.

Here's a framework that you should know for tax planning:The further you can push your taxes out, the smaller they become.The time value of money shows us that a dollar is worth more today than 20 years from now.Planning is used to kick the can down the road, and make sure there will be available cash to pay the tax!