Mike Nelson, although a note, mortgage or deed of trust, and personal guarantee are the basic docs, lending laws and SAFE act requirements vary significantly by state.Find yourself an attorney LOCAL to you who is well versed in private lending.

Issues arise from things as simple as the water being cut off then turned back on suddenly causing leaks... to a 15 year old septic tank never having been pumped out (these are lower income residents).... to whatever problems can come from an inexpensively made home that deteriorates after 15 years old etc...

You would have to study up on recorded docs for your county.

If you broker, well,, that's brokering and was a licensed activity even before the SAFE Act.Your scenario is standard private borrowing and Alan's basic system covers it and the forms/docs used.

House is an estate sale and I am getting a pretty good buy on it as it is so not sure how much i want to rock the boat.I know it is fine if left undisturbed but it looks like the pipes have had leaks in the past and at somepoint If I need to repair or fix a leak in one of the pipes I will have to deal with the asbestos.what do you guys think on both fronts?

I know these abatement companies charge a small fortunate to properly abate it so I Was wondering how you deal with these situations (if you have) I have a nice deal on a 2 fam. on the table it's an estate sale but it appears there is asbestos covering the steam mains in the basement.BEing it will be a rental along with the fact that these old steam pipes can and will leak over time so the asbestos issue will have to be addressed sooner or later.What are yoru thoughts on this?

I'm looking at +45 days and no loan docs yet.

He can open the Voice-to-text to record details and when he is done he hits a button and all of the data prints at our offices in the formats we want - spreadsheets, word docs, work orders for rehab crews and materials lists.

Try to find lenders where the bank's junk fees (processing, underwriting, doc prep, and such crap) is $600 or less.

In some places, uninhabitable is a better condition than condemned; condemned usually means that they are thinking about tearing it down, uninhabitable means something needs to be addressed (plumbing leak, roof leak, insect infestation, electric wiring problem, etc.).