Shelby County has all deed records available to the public online.http://register.shelby.tn.us/index.php

I have recently gotten very into the County auctions and there is a lot of information on the process online, since everything has to be public.

If the transaction is to be a flip, and you do that type of transaction with any regularity, the gains are subject to unrelated business income tax (UBIT)Reference IRS publication 598 for the above topics, and be sure to consult with your tax advisor before proceeding.Even with such tax exposure, you may be able to garner better net return on investment for your IRA with this type of transaction, but you want to understand that going in.

On the lease signing day, the PM company said the tenant didn't show up, which we just viewed as an opportunity to continue to work on the house and no big deal.Then, we get a call out of the blue directly from the potential tenant who made a really strong case about how they'd be a great tenant, how much they loved the property and wanted to be there long term - it was close to many excellent public schools (walking distance to a great K-5), but they really had a huge problem with the responsiveness and communication of the Property Manager and felt that they blew the deal by not showing up at other agreed upon times and just general flakiness.The thing is, this is our first rental and we don't know what to expect from the Property Management company, but the criticism on the responsiveness and availability does ring true for us, many emails have gone unanswered (we've had better luck on the phone).

@Jonathan Mednick  I do enjoy this thread.And I can see your point on too much under one roof.. there was a company in Utah operating out of Indy and KC  that did this and they got them selves into a pickle and one of the issues was they were able to stave off bad situations by buying there way out to keep up appearance's until it melts down... and a lot of it stemmed from HUGE guarantee's that were just not sustainable in the asset class they were playing in .. they could do it at first with the HUGE mark ups they made.. but its a robbing peter to pay paul effect.. and leads to were the principals and sales manager are at now which is litigation of a very serious nature.Warranties:I understand how the public likes them and how a TK company can use them for marketing purposes however many TK companies feel that these can induce folks into buying a certain product over another..

A few comments, thoughts to ponder:Not taking away from your right to deal on your own behalf, personally investing, but what is you public duty as a licensee?

As of late, I am still scouring the appraisers and public records for information on the properties in this tiny developed area.Has anyone come across a situation like this where the legal transfer of ownership has not occurred?

A public sale will take place where the Mortgagee can advise a reserve bid.  

The oft-cited $10k/month goal requires a $3M net worth using publicly-traded securities in a modest balance.  

@David MarzulloThere are some good points and some bad ones, customary for public forums.A private lender is the role you will have with this borrower, he was known to you, personally.