If they spent ten years in prison for drug dealing, but have been out for ten years, have been sober, stayed employed, and paid their bills, there's really no risk associated with their criminal past. 

Some states have specific rules for buying, selling, or servicing mortgage notes that you must adhere to, even if you are out-of-state.3.Federal Regulations: While state regulations are the primary concern, be aware of any federal regulations that may apply, particularly if you are dealing with notes related to federally insured mortgages.4.

I’m currently reading Dave Meyer’s book on deal analysis and Brandon Turner’s book on rental property investing.

What made you interested in investing in this type of deal?

I need some assistance with funding a MTR deal.

If you have experience in the last 36 months, you may qualify for 15-10% down depending on the deal. 

yeah my parents and brother both got home insurance below $2000 that is close to that area, and they just renew it recently too, so I thought our estimate would be correct.... and the option period is already passed, if this doesn't seem to be good deal anymore, we can just back out of it and lose earnest money right ?

I contacted an attorney prior to making the deal and he said it would be ok to get a shared well agreement after closing.

You may also want to really consider trying to find an experienced partner after you have done a deal or two - this may be key to helping you reach your five year goal. 

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