This includes making sure my project manager is doing his job, making sure my contractors are taken care of, making sure payroll is completed, making sure my marketing person is making progress on marketing tasks, etc.I'd probably break down those 4 tasks above as follows:40% - Analyzing Deals25% - Strategy20% - Managing the Business15% - Systems and ProcessesAgain, that's just me...

Also, we bought PropStream (PropValueData) a while back through Robert Allen and are learning to use it to find REOs and assess properties quickly.Again anyone with PropStream stories to tell would be most welcome.Thanks,Cliff

Insurance is obviously a risk assessment.

You can learn a lot about "paper assessments" via podcasts, books, youtube videos, etc.

. - Tax assessment has little to do with what a property is worth.

I feel like I have learned quite a bit in the past few weeks but there's still a lot more to learn.My short term goal I would definitely like to find someone local I could work with on developing a partnership and progressing in real estate.

The property is assessed at around 140k (3Bed/2Bath with 2000Sq ft of living space) and the offer put in is 92k (they were asking 95k) with 2500 in closing costs.

I know that we need to look at obvious needs for repair, get both income and expense statements, copies of leases, etc. and that we should have a professional inspector to uncover any potential surprises, but before even all that, is there anything in particular that you are looking for that you consider immediate red flags when you assess your investment options?

Never assume servicing will remain the same over the term of a note.You need to have your attorney apply servicing provisions throughout the note terms where fees and additional fees may be applicable.The servicing fee assessed to a borrower must be included in the ability to pay evaluation as well.But, then again, the simplest way is to make a note and you pay the servicing expenses.

Thanks for all the help, I look forward to posting some progress pictures.