I like that they aren't a regulatory force, meaning they can't impose regulation but they can impose audits.

I haven't even read my first book on it (waiting until Lonnie Scruggs updates "Deals on Wheels," for 2014 regulations), so excuse the confusion, but seller financing would entail buying a mobile home and selling it for little down and monthly installments, correct?

Ahh, Just getting use to buying properties in flood zones and dealing with all the codes and regulations.

Then, you should be able to select the folks you want to work with.Closers and title plants are highly regulated, don't start out with screwy stuff.If you think you know RE and you're getting back in, start with the basics again, see if 43,560 sq. ft. rings a bell.

Definitely not a bad idea to have an attorney In each state that's familiar with any state specific regulations...I've always checked with someone familiar with the states I've had notes for.

Seehttp://www.consumerfinance.gov/regulations/ability-to-repay-and-qualified-mortgage-standards-under-the-truth-in-lending-act-regulation-z/ RMLO = Registered Mortgage Loan Originator - Fed Designation, not state, you need one if you do NOO financing (sorry thats Non Owner Occupant Financing) LO = Lease Option or Loan Orginator - Officer LOA - Lease Option Assignment - Something to do with a low equity deal Sub2 - Something better to do with a Low Equity Deal Sub2 and Land Trust - common practice DOS Clause - a manageable risk with the Sub2 deals SW SW SW - Some Will, Some Wont, So What, the REIs Credo I was LMAO tying this..... ---------------------------------------------------------------------------------------------- For the real new REI..

You would not be allowed, per IRS regulations, to use that IRA money, within the IRA account, and personally take out a mortgage for the balance of the purchase as it is a prohibited transaction to use an IRA asset as collateral for a personal loan.The good news is that your IRA/Solo(k) CAN take out its own mortgage in the form on a non-recourse loan.

I'm sure there are some regulations and qualifications I must meet in order to buy there, and I still need to look into that.But overall, I see a lot of buy/sell activity, so its not a dead area.Just wondering what your thoughts were.

Steve, Best way to make 200K in financing without a finance and RE background is to start out with 400K.Financing is a highly regulated business, if you have money I'd say speak to your attorney.

Unfortunately a regulatory body doesn't exist that has licensed you and is willing enforce any regulations for or against those unaccountable earnings.