I attended one recently, but it felt more like a scheme; the initial meeting was free, but subsequent sessions required payment ranging from $200 to $500 for a 3-day course.

Then the judgment would need to attach to the property and then you can foreclose.Issues that could come up are I assume there is no third party servicer to claim the payments were or were not made- so there is a he said she said - if they also occupy the property and statements were not sent you cannot charge interest typically on the loan.You will need an attorney involved to see what if it is still collectible.

If they are comfortable enough with my presentation i will put their invested funds towards a down payment and have the remaining balance financed by a bank.

As mentioned above you can use your down payment as leverage buying multiple properties with 25% down and having millions of $$ properties owned is better than one property paid off. 

Check out the enemy method.

Here are some details: Top bottom duplex Purchase price 440kTurnkeyDownpayment - 55k Both units vacant2/1 upstairs - $1500 market rent (long term)3/2 downstairs - $2500 market rent (long term)Newly renovated Central ACSeparate electric meter 1 water meterInterest only payment for 5 years - $2567/monthTax - $500/month (appox)Insurance - $150/month (approx) Cash flow - $391 (after taking into account vacancy, property management, maintenance and capex reserve)ROI - 8.5%No prepayment penalty If used as Airbnb, ROI can be higher

If they want to move forward, we first advise them that if they are approved, we will need the deposit in certified check or money order only within two business days; and pro-rated rent prior to turning over keys by similar method (Once they move in, we have other payment options available).

We have an Airbnb that was our previous primary home, this time around we are thinking BRRRR method doesn’t uproot our family.

After a guest stole out TV's and filed a claim on their credit card payment - and VRBO did NOTHING to assist us, we checked out what Airbnb would have done. 

Also, if you want to continue and expand the process by using loans such as mortgages, the banks will support this method.