All good info.What I would do is move as quickly as possible into Wholesaling.Here is where you earn big time while you learn.The difference between the Bdog and wholesaler is that you need to learn how to analyze a property to see if it is something appealing to an investor.YOu'll need to learn how to market, negotiate and contract.All the skills you'll need when you start buying properties yourself.The sooner you move into the wholesaling arena, the better.You're almost there.

The thought of using land I already own is appealing, I'm assuming I can save a few bucks that way.Wish me luck!!

. , also talks about one who does not regularly engage in the business of making or brokering mortgage loans one of our recent REIA's we had a lawyer discussing this, and he kept mentioning how theres alot of gray area, and there has not been any cases where this was brought to court, My undestanding is, if your owner financing the properties, you'd be regularly engaging in the business and could be found guilty. the lawyer wasnt even sure. just dont get caught.

It is very difficult to prove in court that other people or animals are living there.

Within this process, I have an Investor Profile sheet that I fill out to help ensure I don’t waste an investor’s time with deals that wouldn’t be appealing to them.

If this happens, you will have a BIG problem and may have to evict them in court.

When I buy a house at a trustee foreclosure auction and the previous owners are still in the house, do I need to hire a lawyer to evict them or can I, as the new owner, just show up at the justice of the peace on the court date with a copy of the trustee's deed, or do I need other documentation?

The respective insurance company on each claim is bound to find out of the other policy's existence and could (more than likely would) attempt to invoke the "excess" clause of it's own contract, potentially leaving the owner waiting for courts/arbitration to settle...

That's my court date.

The reason that the risk is very low is that a successful investor will have the resources to handle whatever happens: refi if the loan is called, fight in court if the lease-option seller refuses to consumate the deal; etc.