Other key mentors along the way have been a community banker, and a title company owner - all contributed to our knowledge base about the buying, lending and closing processes.If you haven't already started talking to lenders, I would recommend starting that process now.

Overall the process went pretty well, going with cash helped me lock in a decent price. 

I am selling this property which was purchased at a tax lien sheriff sale, I signed a contract with one of those contractor guys who buys for cash, but he is not licensed and is just trying to sell it or wholesale it on the MLS, leaving me without any word on the process, The contract said they should have started the process of the Title search and notified me within a 5 business days and notify me within 20 days of any problems with the search, they did not start the search until 15 days from signing the agreement, then i sent an official cancelation he is accusing me of breaching the agreement and want to file a lien on the property for his right to buy??

During offer process you are expected to have also reviewed signed all disclosures, reports and documents. 

Also, just like anything else the more time you spend qualify deals the better and faster you will become at it, so the practice will improve the process. 

Has anyone else heard this from an attorney or another investor recommending this formation process?

I wanted to develop a little more of a knowledge base on choosing a potential location before I really started trying to make connections so I'm in the process of finishing emerging real estate markets by Dave Lindahl then the plan is to pick a few markets and start connecting like you said.How long ago did you start investing?

My thought process is I'm securing ownership interest in the property where I'm the only person with the right to sell it.

Hi, I did private lending to one of my friend , he mortgaged his investment property as first lien with me.agreement was that he will pay interest monthly, and he was almost regular on that.in July that property got  deadly fire, in August beginning he paid my interest for July and didn't mention anything about fire.today, he called me  and told that he wants of pay off(but he didn't pay last month's interest).I said OK start processing for payoff, but pay me last month's interest asap, then he told me that house went on fire and he is hoping to get insurance money and then he will pay, he has no money to pay interest .Now, my concern is should I wait and watch or I need to take some pre-action to make sure that I get insurance money since I am on first lien.That was my first ever lending :-(. 

The tenants and landlord have been very understanding and flexible, and I'm able to use our shared spaces to do a lot of the processing I need to do, as well as use part of the basement for storage.