On the cash basis, you deduct all expenses in the year they are paid and recognize revenue in the year it is received.

Those, that recognized the opportunity, made a fortune. 

Smart attorneys (99.7%) recognize that I the guy that makes it possible for then to get paid.

While most of the investors I know (a) don't fully understand IRR and (b) recognize that it is based on key assumptions - if it is provided by a trusted party and the assumptions are spelled out -- they know that the IRR number is one of a couple key indicators that provides good context around the deal potential.

Having had a home proposed for condemnation, recognize it's not a fun feeling.  

Talk to your mail carrier.It's easy to recognize deadbeat tenants, grandma's house, vacant properties, etc.

I'm learning to recognize good or bad deals and would like to use this as an example.Thanks!

Don't recognize them all;Elev=elevation above sea level.

You're no buying a note secured by a deed of trust, you will be buying the property subject to an existing installment contract.Under the UCC installment sales are terminated upon default, that's all well and good, but states have recognized "laws of equity" requiring foreclosure proceedings in any financing agreement where a buyer has established significant equity, most set that at 10% of the sale price, this buyer exceeds that benchmark.Since the CFD does not have a non-judicial path to follow by agreement you will need to proceed with a judicial course of action, most likely.I don't know, nor do I even want to know Cali foreclosure laws (LOL) but since they are rather consumer oriented I'd think they would follow the popular thinking that using a prearranged quit claim deed, as is usually done with old CFDs, is circumventing foreclosure laws, so I wouldn't go there.

Are you investing in an area you know so you would recognize a  bad neighborhood?