Do some research before you pull the trigger.

I looked into them a few years ago and went to a number of auctions but never pulled the trigger on anything.

I used to flinch at this as a myob question, now I just answer it and find it tends to trigger really interesting conversations.

Lamar, as I mentioned elsewhere, being a lender has some downsides, it's not so much about making a note and having a deed of trust but you have limitations and compliance issues if you do enough to make a living at it.We recently had a thread about taking equity along with funding a note, by using an LLC and especially a Series LLC, it's pretty easy to be the finance guy, provide the money and share in equity.The Series LLC sets each "partnership" and property in a cell structured seperately from others.

My rule of thumb, if the numbers work and it's a good deal, pull the trigger.

You can look to the Treasury Department or FDIC as a regulator with your degree, you'll attend the school for bank examiners in DC and gain the compliance and legal background that directly relates to RE, especially in valuation of collateral.I was unaware of the benefits of having been an examiner until I left FDIC.

http://smallbusiness.chron.com/top10-irs-audit-triggers-24366.html

:-D)6) My biggest fear is triggering due on sale clauses. how would I know if that could occur with a deal?

It worked well for me as a fine of $25 for failing to return the trash cart got quick compliance, not just with returning the cart but to the lease agreement.

If everything is good, then they send you a code compliance letter