@Gautam Venkatesan Unfortunately, there is not anything that will guaranty you that the collateral will be in good condition other than reps and warranty's in your purchase contract, and that doesn't happen in a note sale.

But unfortunately, I have not done one thing with the information I have.

So let me clarify.GENERALLY, UNLESS IT IS DISCLOSED UPFRONT OR THERE ARE SPECIAL CIRCUMSTANCES WHICH IS RARE, BUYERS DO NOT PAY ANY COMMISSIONS WHEN AGENTS ASSIST THEM IN FINDING A PROPERTY.

Unfortunately, I thought that was going to be the case.

Unfortunately, my parents haven't been taking advantage in this opportunity.

If I build new, I will have to bring the entire property up to code, unfortunately.

Deals I couldn't do due to the circumstance at that time, I passed them to my in-laws, brother and friends.

I unfortunately do not have very good credit, so I was wondering how much of a factor that is going to be when I try to start looking for money to fund my investments.

You can only obtain Conventional financing (Fannie Mae) when it comes to investment properties, and when it comes to foreclosures, they're pretty strict. 7 year wait for Financial Mismanagement and 3 year wait for Extenuating Circumstances (the second one can vary from lender to lender).A deed in Lieu of Foreclosure/Pre-foreclosure Short Sale will have a shorter waiting period (like 3 or 4 years)Another issue would be if she has also filled bankruptcy at the same time of the foreclosure - this would have further delayed the bank from repossessing the home.

Welcome to the Bay @Mohammad Foro , unfortunately I can't recommend a good aggressive tax acct here.. but @Greg Meech is basically on the money.