I live in central Iowa .

I have recently started in the note business and would say you want to verify the collateral with a BPO, get some pictures etc. verify the taxes are paid and title is cleared and the insurance is in place as well as having a lenders title policy (this is often overlooked).I would recommend using a servicer to avoid any Dodd Frank issues and to make sure your note is properly draftedFeel free to send me a PM if you need more information.

The next meeting is Feb 12.There are several other monthly meet ups, including:http://www.meetup.com/Central-Texas-Real-Estate-Investors/http://www.meetup.com/Austin-Real-Estate-Investor-Networking/As Scott mentioned, Phil & Shenoah Groves founded RENC and several other meet ups that are well established:http://www.meetup.com/AustinRENC/ (or) http://www.austinrenc.com/You'll find a lot of rehab activity going on in the 78702, 04 & 57 zips.

I tailor my list to avoid such areas.

If much lower value, you might be able to avoid probate altogether and merely filing an affidavit of small estate.

I am looking into becoming a private money lender for a real estate investment company who secures their loans by placing the lender as the 1st lean position and uses a "Reverse Quit Claim Deed" to avoid the necessity of foreclosure proceedings.

Greg here from the Fresno/Clovis area of Central California.

I don't want to rent a self storage unit and have to load and unload multiple times if I can avoid it.

Best to have a very frank discussion with the lender up front to avoid last minute surprises.

Avoid the very common desire to "finally just buy something".