That process has direct lender involvement.Where the challenge lies, is when unsophisticated "investors" with no experience, no money and no reserves use creative financing (often called wrap, subto, lease option, seller financing, land contract) to purchase properties and along the way there is a "hiccup".

For now, staying local allows me to leverage my property management experience—most of which came from working directly for family and close business associates who were property managers, contractors, and business owners.

Whichever direction you go, be sure to work with folks who understand this and gives you the confidence to take reasonable action - I'd personally take an okay investment and weather the storm for a few years that will eventually perform well, and do that each year - rather than take 3 years to wait for the best deal possible.

Quote from @Robert Gunn: I would also be very interested in hearing student or JV experiences with Pete and his program.I stumbled upon him by chance and for fun (I've been investing in land for years) signed up for his "free" course, which he promises after he pitches his $499/mo software system (which is basically an overpriced CRM) and then after the first "Level" in the course, you are directed to a pay page to access the rest of the "free" course.  

Quote from @Maria Jeanette: I am considering using Equity Trust to set up a self-directed IRA to purchase properties.

Point is, (a) it's all but impossible for the investment to go to $0 and (b) you have direct, impactful CONTROL of outcome. 2nd: Back to the CONTROL aspect.

I gotta say, I had a hard time deciding on the monthly rate and deposits.

Throughout this process, at your direction, AHP Servicing will service the loan and Activist Legal will facilitate the receivership and completion of the foreclosure.

There have been a few people that have done Sub2’s that come on here bragging about it.. those that do come on here bragging about seem to be  helping someone promote their product/mentoring , have a product or mentoring they are trying to remote directly or indirectly themselves, or simply do not understand the landscape of Bigger Pockets site.

My realtor is reaching out to local lenders now to ask questions so I'll see what they tell me directly but I'd rather buy more sooner than later if we can.