Hey @Kyle Kline, these are all great questions to ask and ultimately it will be personal preference. 

Don’t waste your time with the large banks, you’ll never get to the right person unless you operate a hedge fund and are going to buy hundreds at a time.I found small local banks work the best.

For background this is my first investment and I own the property personally not with an LLC or anything of that nature. 

@John UnderwoodMost likely it was a land contract they were buying which also would include assignment of land contractFor deed of trust / mortgage you get the assignment and allongeI know they are coming out with improvements to the site.If you think the buying process is challenging wait till you have to transfer a loan for servicing (not a paperstac issue) but that process is like catching your nails on a chalkboard

I personally would put down 20 percent and keep the rest of my cash, even if it meant I wasn't "making money" in the beginning.

When you get them on the phone setup a time to do a zoom call, see how they do business, who the connections are they have, and if you get to know them through those conversations and feel good go meet them in person.

However, the person you spoke with has a good point.

If anyone is interested I have a contact person who can provide more information. 

Not sure if personal info is allowed here but look up nerdtech on youtube for some details on how it works.

In a contract for deed, often done with seller finance deals, the answer is a little complicated.