He also thinks being close to a ski mountain is important but unsure if you could be profitable if not near a ski mountain. 

How important is it to have that oven vs drawers?

This is very important. 

It provides a lot of good info on one (very important) aspect of note investing. 

Also I think it is very important to look at many different investments and evaluate them all equally with a 'risk-adjusted' return.

How many current mortgages is not the important factor... it's their combined balance.In most cases you'd be paying off both the first and second (and any other liens) at settlement and the seller would walk with the difference... in this case roughly $20k.

I use MailChimp because it is currently free and I can easily export my records into universal templates that may be imported into more complex software.My recommendation is checking out this video by a YouTube content creator in your industry. 

My number one criteria for buying in a location is having a reliable a trustworthy team to handle my investment for me.Seriously, everything mentioned here is important but if my property management team is crap... read some of the comments from some of the other investors about how bad their property management teams are.

the best way to do this is to have lawyer write it up. the second best way is to purchase on online (BP sells state specific leases, prepared by attorneys) and you can always make some modifications to it...but the most important part is to run the purchased lease by a local real estate attorney to make sure it and any additions comply with state law

He also import his own material from China and can use that in his advantage to offer lower than anyone else