, I look at the last 2 projects I've done - which have involved re-zoning, new square footage, and/or lot division - and I *know* I would have never gotten the experience and confidence to do it without investing locally.  

It depends on the sophistication of the investor involved.

@Greg Behan  @Kevin DelaneyAre either of you involved in any local networking groups? 

No attorney's are involved with the transaction.  

I've listened to many of the podcasts, which was the main reason I joined, but I've also started using the actual site and blog as resources, which inspired me to say hello.My family has been involved in real estate for quite some time.

My goals for RE -  Create WIN/WIN situations for everybody involved in a deal, but understanding that WE need to make money to become efficient.- Creating a presence in the local market and working with other investors / realtors.

@Randy JohnstonRandy thanks so much, the first thing I will do when I arrive back to Portland is get involved with NW REIA and Rarebird.

If you look at areas on the Coasts or Southwest (Primarily: CA,OR,WA,NV,NM,AZ), you see it less.The issue is with some of the 10 caps I see, they really need to be 15 caps to deal with the risks involved with some of them.

You can buy on the internet at sites like loanmls.com or you can buy from a note seller or by wholesaling from a homeowner that is involved in a lease option or subject to or land contract situation or one of the note schools. 

You will have to explain to them benefits and risks involved.