By definition (ours here at Bigger Pockets)they are glorified slaemen who make everything sound easy and that with just a few clicks of your mouse and a phone call, hundreds of thousands of dollars will fall from the sky!

Copper thieves are looking for vacant residences as easy targets.

If the transaction gets flagged or audited, it would be fairly easy for them to unwind what happened and liquidate both IRAs.

On paper the mechanics look easy, but implementation can be very time consuming.For example: I may talk to 50 people in one month looking at say 60 or more properties that can potentially be a good deal.

@Patrick: Yes, with some work you should be able to find a property worth flipping but that's the (semi-)easy part.

Sure you have paid down the note some but the higher interest rate on refi could make your debt service payments higher than before.It's easy to get into an property but sometimes much harder to get out of one.You have to think and plan for worse case scenario when structuring these deals.Many of these owner finance deals are going under the radar.I have already had some bankers tell me in the future they will call these as interest rates rise because of the DOS clause.So in my opinion it is an excellent time to load up on owner finance as long as the down payment and terms are right.

I guess I had a misconception that being a landlord out-of-state was very easy and property management companies were a waste of money and time.

Awww, Jeff, forgot about LOC for NOO; good thinking; I am not opposed to conventional; just want dough easy.

So is it really just that easy?

It was helpful--there's a lot of information out there, but here it was pretty easy to find as well as a lot of real-world experience to read about.