I take full responsiblity as it's my job to do the proper due diligence on any potential partner.

The risk is they could fire you tomorrow or sell the company to someone with a much different vision. 2.There has to be those who fill other roles as well, whether it's a hard money lender, private lender, or even a valued employee. 3.I think it’s prudent to do due diligence on any idea or venture however, if you focus on only the negatives then you’ll never start anything. 4.While having the knowledge needed and wanting to obtain more is great, one can also fall into the state of paralysis by analysis.

I'd think there would be tons of due diligence involved, oversight on transactions, licensing issues, compliance in various states as well as liability for partners.

Based on my due diligence there is no existing mortgage, and the only recorded judgments or encumbrances against the owner/taxpayer (besides the IRS tax lien) are a $900 hospital judgment and $6300 in property taxes, but based on the opening bid and what the FMV is, that's not a big deal.

And if they disagree with you its big money fighting city hall as it were...for the general public then the due diligence is hey will this company be there in the long run how do I know they have the wherewithal to cure.. what happens when there are no more 2nds to be bought at these huge discounts. what happens when they have made gazzillions and have retired and there is no company left to warranty... the notes down the line. what happens if I don't like the replacement note how does that work.. so those are just basic questions when your buying something with a warranty be it a car a toaster ( or my favorite Windows) Windows have 10 year guarantee ( window company folded) your windows have leaks nothing you can do.Its just like sellers of property giving rental guarantees they are only as good as the strength of the people giving the guarantee

You're right to do diligence on this, but the rules are quite technical and confusing.

I agree with you, and figured it was worth getting under contract first then do my due diligence.

You may also consider investing under Roth IRA or Roth Solo 401k, here you are paying taxes upfront, but will never have to pay taxes on any gains or profits.If you use Solo 401k, even though it is retirement account, you still could access your funds up to $50K any time for any reason via Participant Loan feature.And I agree with Guatam that you should investigate other investment options such as notes, etc.Do your due diligence, you've got several things to consider here, but there are surely some good options available to you.

Do your own due diligence.

Hope you have enough time do all the due diligence and get financing.