Last note, anyone have pointers on how to get rid of animal urine smell from concrete.

A few notes. 

The key is not only have the security in place like the note, mortgage and personal guarantee but the biggest risk is who you are lending to.

You have to remember that the primary advantage of using leverage in REI (other than stretching your capital further, of course) is that your tenants pay down your note over time, essentially buying you 75-80% of a home (assuming standard dp's).

Either process could work, but if he is securing his interest with a lien on the property you are purchasing, then he should most likely send the money directly to the title company (and have you sign a note and mortgage or deed of trust). 

Note: this is NOT a post to try and raise money!

Maybe this is ludicrous or not sure if it has been done before, but has anyone been able to do a wrap-note with a self-directed IRA If you're trying to do the BRRRR strategy?

If they put 10% down, You'll get 14K and keep your cash flow on the note. and the repairs are then their problem. if the property value tanks, its not yours anyway. unless they don't pay, in which case you can go after them for the value and the house is yours again.

Not my buyer, another Realtor reached out to me and see if I could carry their note.  

Compare notes and do what you can to find sold prices near by ie comps for arvs but basically keep looking at deals until you know a good deal when you see it