The entire seminar is covered in the beginner posts/articles on this site and they're just trying to upsell people on a 3 day seminar that's "on special" for $200.

The issue we are concerned with is DTI.

This is exactly what I said in my post above last night, which was what was previously pointed out to me by my broker.So, in general, it sounds like the law frowns upon brokers creating any non-simple contracts, but will tolerate it if they make the contract subject to the review of the attorneys for all parties.Based on that, I'd suggest that it's more legal for brokers to do this than Dale believed and less legal for brokers to do this than I believed.So, we're both wrong...or right...or somewhere in the middle...At least as far as New York is concerned, and it appears that other states have also adopted that ruling from what I could tell.

Should cash flow be my main concern?

I consider much of what I say to be on a humorist side, not meant to be elitist.BP is full of posts, many are mine, concerning the note business and I have tried to convey an honest, eye opening awareness to new investors, especially to the points about attempting to acquire a property by buying the note.

I guess that is the part that, as a newcomer, I am most concerned about.

My concern is if he moves out and I have no prior knowledge of the apartment prior to him moving in a year ago how can I legally keep any of his deposit if he moves to cover wear and tear?

As far as your long terms goals are concerned, I think you need to decide how important real estate is to you and what kind of investor you want to be.

I would be concerned about the slope of the line to the street when they replaced it.If the slope isn't right or they have funky bends in it to go around big roots or above them that's when water and debris can sit and cause constant clogs.About every 3 to 6 months the plumber then has to come out and scope the clean out outside to unblock.If material is with dirt etc. is back up in the toilets or they slow drain or make a gurgling noise with bubbles you could have an issue.Make sure as mentioned before buying you get a plumber to scope it out all the way from the toilets to the main and the street to make sure there is not any issues with slopes or clogs.I have heard many horror stories where a buyer calls the county or city and they say on the phone that everything is fine and after they buy it they get hit with all these costs,fines,etc.If they won't give you something in writing I wouldn't feel comfortable about it but that's just me.So this was an existing line to the street and not a sewer tank that they converted later and hooked to the city or county correct??

It costs about $75.The endorsement provides the assignee of a mortgage or deed of trust insured under a CLTA Standard Coverage Policy or an ALTA Loan Policy with assurances concerning (a) the validity of the assignment to evidence the transfer of the entire beneficial interest of the named assignee; and (b) that no full or partial reconveyance, and no modification or subordination of the insured mortgage or deed of trust appears of record.