Of course, they could be the 15% partner that you discussed in your example, but in this instance, I'm thinking about how to move forward with these smaller cash partners while we're hunting for a larger cash partner that can put up 85% on future deals. 

Of course, there are many famous people who dropped out of college.

Texas is a little more free with these kinds of loans but very good point for certain states.Yes I thought it was an appropriate time to mention that to the audience since many times they don't really understand why HML do what they do.Like in 12 states  OR CA NV for instance you MUST be a fully state licensed and NMLS registered to do any kind of loan on 1 to 4. in CA you can use a CA broker license as well as a consumer finance license.. so 3 ways in CA but you need at least one of them.In Oregon STate license and NMLS.. and in NV state license NMLS AND brick and mortar..  

As for the Nonwaiver of Enforcement, that is standard issue in any contract....the failure to enforce something in a given instance doesn’t mean you give up the right to enforce it forever.

I know the answer probably is yes in many instances, but here is a broad example of a note that I am looking at: -Performing 1st with no missed payments over the past 15 years-Equity in the house - less than 60% LTV-Property is in rural WYThe note has been performing well for a long time and I view the chance of default as fairly low........however, if I ever had to foreclose on the property in the future, I am worried about the ability to sell the property (either through auction or on my own) might be difficult.

For instance, most listing pictures don't show foundation, roof, or system (HVAC, plumbing, electrical) issues.

A 3 yr hold for instance might have cashflow a total of $7200 but equity growth & appreciation was $60k for instance. 

The only rational choice for me would be to give it all away (ok, most of it).But, I suppose if you want to be as famous as Rockefeller, Morgan or more recently Gates or Buffet, you just keep on keeping on.

Insurance of course is liability protection, generally someone gets up to $1 million per instance, $1 million sounds like a lot, but I know a truck driver who got his foot ran over by another truck and was awarded $1.5 million. 

For instance when I first started as an agent I took notes on all of my client conversations and wrote down what went well and what didn't.