The "gotcha" is in the last part, 'subject to...'

Another reason for distressed land is because my local housing market is a heavy sellers' market (based on my limited real estate knowledge and after what I experienced purchasing my primary residence last year) so I'm trying to use the time while the market cools a little to invest in other opportunities.

If so, why would someone buy the last 5 years of payments on a 30 year note?  

Last month, I took $90K in a cash-out refi on the duplex, and used it to buy an $80K duplex, putting $6K into renovations (ARV $110K or better.)

I just passed my WA State test last week after using Rockwell.  

I had been using it for last few weeks.

A fellow local on BP - I'm on the border of Murrieta/Menifee and just joined up last month myself.Are you looking to invest locally here in the valley or out of state?

I also agree with you with putting in materials that would last through multiple tenets.  

I just read about your whirlwind success over the last few months.

I am married, have 2 children, and owned my  business for the last 5 years.