Do you draw the line at violent crime?

The 70%LTV is Loan To Value so he's selling the note of $41,300 divide by value $59,000 = .70  Due diligence on the note balance would be easy to check, but I would be concerned about the "appraised value" who appraised it and when. 

Let say purchase price is$30200 x 82%=24764 24764_25%=99056 divided ARV99056 x45%=44575.2 what the property is to be marketed at.Now where is my fee?

Then divide it by your initial investment of 356,250 to get 20.1 % Return on investmentNone of these take into account, upside, rent increases etc.

Get a detail  item of the bid and I think you have  drawing and maybe one are two trades you may get someone else to do them and save you some money are if you are handy you may be able to do one are to to get the budget down .

For example, your note buyer handles everything, including paying for and communication with the attorney doing the foreclosure and you agree how the proceeds from sale are divided upOf course, from a practical standpoint, forcing the liquidation of your 2nd mortgages may result in the property "reverting" to the note holder. 

Do you combine them all in to 1 reserve account, and draw from that single account when needed?

I'm new to personal investing and hoping, like many of you, to make it my full time career at some point in the future. I recently finished the site favorite, Rich Dad Poor Dad, and was left with a fairly mundane ques...

I do not use an attorney I draw up my own deed and use standard P&S etc. 

My initial tip to all new landlords is "draw a line in the sand" and be ready to redraw it several times.