We spend an unmeasured but substantial amount of time reviewing accounting questions with owners and tenants because the ledgers are not user friendly, unless you are a seasoned bookkeeper. 3.  

When starting out, you may feel a need to rely upon the judgment of others who are more seasoned in the market than are you.

I've got a few questions about probate investing and I figured I'd ask some seasoned investors before scouring the forums for previous guides (I'd like to spark conversation with other investors as well.)I've recently learned about probate wholesaling and I'm very interested in focusing on this type of lead.

I just spent a ton of time researching this thing myself since we are in tax season.

Perhaps you could give specific advice on this example:Say I'm looking to buy a seasoned performing note to hold in my IRA account & I've studied and performed due diligence on the note (title, property value, equity, borrower etc.).

Some lenders will look at the sale much like a lease and use 75% of the contract income to offset the old mortgage, reason being is that the note or contract is newly created and there is no seasoning to show the new buyer's ability to pay as agreed.In my experience, usually the old mortgage is a contingent liability, we did not count it against the seller in the ratios.

As @Bill Gulley says, a seasoned landlord will start sharing war stories with you and even tell you why the tenant is leaving/has left.

The one seasoned realtor that i was talking to told me that she know of no successful wholesalers in my area.

That is almost always sound advice.Question: Why only a seasonal rental?

When I sell the home  I am going to be using a servicing company to handle the mortgage amortization, handle the payments and end of season tax information, I will be paying on the first loan again using the servicing company."