Hi All,I'm looking to buy my first multi-residential/commercial property but so far it's been very challenging and time-consuming to find a great opportunity.

@Jason Eyerly   I wonder how that lending club is going to do over time.. seems quit risky its unsecured consumer debt.. your basically a credit card company... why don't you just keep your cash for now...nothing wrong with having those funds.. buy REITS or index funds that are liquid there are always deals...

I can't be at the jobsite all the time, in fact I could only be there before 7am or after 5pm on a week day or the entire weekend; ironically I work as a residential Project Manager and have to be at different jobsites.

Sooo you may just not be in need of any mortgages at this point, but don't tell my management I told a consumer that fact.

@Randy Johnston  I think CA is probably the only state that acts like this.. but a CA real estate broker licesne is needed to do HML... or NMLS or Consumer finance license need one of the three.when I ran my HML shop in Oakland I ran it under my CA brokers license.. although I am in Active now in CA I still have the license in case I wanted to fire up Notes or HML in CA..

@Glenn Gerisch  here are three I know foreclosures are long and expensivePA  IL  NY  and thinking NJ is not a cake walk.. states you like ( well I like) .. are  WA OR CA NV MS TN GA TX  and I did one quickly and cheaply in Kansas city not sure if it was MO or KS    one just needs to check the state statues.. but by and large a mortgage state and judicial foreclosure state are more expensive and time consuming..

I would iron it out to zip codes.

If you can get a niche ironed out and source some regular deals you'll go far! 

if your selling to owner occs on contract then yes you need to comply  .. plus your RMLO will need to make sure credit DTI and other things are in line.if your thinking of the strategy to sell collect down payment wait a few years until they default then take it back and do it again.. then that's what dodd frank is for.. you know our govmit protecting the consumer..

CJ.. we are in Indy I have been investing on and off there for about 12 years now.as with all of this rental stuff  just buy in the best areas you can.. and you should do fine.stay away from the cheapest best on paper stuff.. these work best for locals who are there and can run them with an iron fist.