That said, I think you should start with training wheels, not with a performing note, but with a mentor, experienced JV partner, or some useful training (highlight on the useful). 2) @Dan Zitofsky mentioned this, but I think minimally if you opt to buy non-performing you should at least consider what you would do if it goes non-performing.

Is there a national financial database?

Here's an article about a case I read about regarding Section 8 not having to be accepted:http://realtytimes.com/todaysheadlines1/item/2224-...Specifically, here are the most pertinent paragraphs relating to Section 8 not being income:The allegation that the Fair Employment and Housing Act was violated centered on the prohibition against housing discrimination on the basis of "race, color, religion, sex, sexual orientation, marital status, national origin, ancestry, familial status, source of income, or disability of that person."

Notice that the default assumptions I use are for a pretty standard purchase - a 20% down property that appreciates at the national average rate of 3.4% and that cashflows at the median price to rent ratio of 10.08 to 1.  

I know of a group Security National Mortgage that has been willing to work with some of our buyers on these lower loan amounts.

In Northern VA (NOVA), we do experience higher than the national average on home purchase prices.

@Upen Mody  would depend on location... as we know are very tough.. unless your talking a national brand with lease guarantee for the owner who you would be leasing to.If a restaurant closes up it can take a while to find a new operator and who is going to pay your mortgage then..

You will get a record of the payment and the money will be deposited just like a credit card payment.Maintenance Calls - www.NightTenders.com Is an affiliate of the National Association of Residential Property Managers.

The application ask for full name address social security number place of origin nationality information which is quite peculiar for a little nap period furthermore it didn't even look like it standard loan application. 

Long term national average is like 14 years, and cities like SF and NYC and Boston are around 25 years....