This involves a triple net (or NNN lease) and I am wondering who has had experience with such a thing and what types of things I should watch out for and any problems that could arise from this type of deal?

The bankers I have taught to here in Dallas told me everyone would throw an LLC together and try to get a conventional mortgage thinking they can bypass the personal guarantee, and the bankers are watching the LLC fraud very close.Joe Gore

Watching others succeed and share their successes here on BP has definitely motivated me to go out and take action!

Some pitfalls to watch out for: - underestimating operating expenses - make sure you have a good mentor or experienced investor or post on BP when you run your #s.

All I have done so far is read books and watch shows, but books and shows can only do so much for me, and a hands on experience would be the best option, but I know by just jumping in would cause a big mess.

A very smart lady (@Jessica Swingle) recently said to me that many investors wouldn't buy a property where they wouldn't want their mother to live.That's one investment method and definitely good advice.

Auction company must of got tired of watching people bow out cause they couldn't perform.

You could just watch a few youtube and you will catch on quick.

Watch out for other  gov't liens, code violations, property taxes, and recorded/unrecorded HOA debts, as these all remain with the property.

Consider giving them a gift certificate to their favorite restaurant as a token of your appreciation for their patience during this time.Also, step up your watch of the property.