So I'm a newbie and have a question...if there is a motivated seller whose house is upside down and perhaps have stopped making mortgage payments what happens to the mortgage?

I spoke to an investor in Myrtle Beach SC about this and he has a couple vacation rentals and was not to positive about them and then I spoke to another investor/realtor/property manager in the mountains, after about 30 minutes talking with her she stopped us and said " here's the deal, I am an investor and manage over 100 properties for other investors, but I don't own any vacation rentals, that ought to tell you something". 

Think we can stop this now :)

We charge per service , we dont wait for the snow to stop , we plow with the storm .

All the best in your new venture.

So stop, drop and roll up your sleeves.

Smaller banks are more personable (at leas what I found after venturing out) and you can get to know who the loan officers are so when you have questions they don't mind helping you.Recently, I was searching for a Home Equity Line of Credit (HELOC) and went to a smaller local bank that just happen to have a presence in other cities, nothing like Chase, WF, or BofA but nonetheless they have a small presence.

It would be more like what if he stops working and you need to evict him as a result?

All too often, new investors either overdevelop or spend their money too fast - both of these behaviors derail their plans and stops them woefully short.

All too often, new investors either overdevelop or spend their money too fast - both of these behaviors derail their plans and stops them woefully short.