In your offer put in all the details for the terms of the note.Interest rate, payments, term, payment holiday, other special conditions.Once you have agreement with the other side then you can go to escrow and have someone there create the note.

I'd prefer to do some of the legwork preparing the filings myself instead of paying some lawyer to do it, but that's an entirely different subject.Thanks again...

I have a contact with a local broker who specializes in dealing with REO in the local market.

It is important to discuss the issue with your accountant, who should be familiar with real estate, to prepare for and determine the outcome.

Any special skills that might be of interest?

one word - TENANTS.i'd relate being a landlord to a poker player -the pros or good players play like they've already lost - so they've got nothing to lose in their mind. as a landlord, if you're going to start renting real estate - rent it as if it will be totally wrecked.ASSUME THE WORST AND PREPARE FOR IT.don't buy and assume the best.hope for it.

Or you might use a double close rather than an assignment.There is no special contracts.

Expect that they might be too slow so be prepared to entertain late contact if the offer expires.John Corey

Also note any special skills or prior training you have that might cross over into RE activities.John Corey

Any special skills or details that we should know?