We are fully capable of taking on a project like this but my concern is that I will do something that will communicate that I am new to the business and he will lose interest.

Quite a bit of work with "first responder" communication systems.

You would keep making the payments.When you take a property subject-to it's important to get an authorization to release information from the borrower so you can communicate with the lender about the loan.  

Marie Poe, the property was not deeded to the buyer, there was no lease or rental stipulations, I had no idea when we filled out the sales agreement what was the right way to do it, She has stop communicating.

Most of the people I found got my plans I never heard back from them, or  I found only General Contractors that were giving me over inflated prices.Finally found the right guy for the structure , reliable , communicative ,with a good price and seems I can trust him (so far).

Since I prefer a simple, 6 or 7 line, one-page with lots of white space, I've never had a problem but then again, I'm fairly high-profile in the probate legal world in CA.Noticing is required for all transactions involving real estate, unless:>No other heirs>No Requests for Notice have been filed by other interested parties>No active litigationTitle company will either want attorney "comfort letter" or or estoppel letter from PR asserting compliance.If your transaction does not meet these requirements and noticing is required, it's not too difficult for either an heir or any interested party souring the bathroom at your party by objecting or sending most any communication to the court that appears to question your anticipated transaction.

Honest and open communication is key.

I would also recommend "From Janitor to Multi-Millionaire" by Rich Weese, which shows you how he structured a myriad real estate deals using both traditional as well as incredibly creative ways.Don't forget to check out your local REIAs and join your favorite one(s)Sebastian

My response is usually something like, "The only thing I am successful at right now is making someone else rich, and not securing my future."

If I was a betting man, I would wager that most new note investors struggle more than they ever imagined with borrower communication.