A lot of our job is looking at real estate loans, financial performance, etc, so it was eye-opening to see what people were doing in the Bay..

Get the place fully performing and then sell it for hopefully significant value. 

Keep in mind, even during the downturn, the VA no-down program was the TOP performing portfolio.

I have rentals in Lake Isabella but I work (performing home inspections) in Bakersfield a few times a week.  

Or you can choose to perform the search yourself at the county records office, but make sure you know what you are doing!

My partner and I actively purchase non-performing and re-performing notes throughout the U.S.

I hate to think that they are just in it to collect a short-term fee of some kind and will bail out when they have to actually start performing on the portfolio!

One company said that the last time they performed a deal like that was 2003...and fines were incurred to many individuals.I know there are wholesalers in Portland, but it's 300 miles away.

You can insure against this.A partner/principal can be bonded against other risks, non-performance for any reason, like disability, criminal acts, bankruptcy, or just bad management, that may be expensive and not worth the arrangement, so you would have risks.IMO, knowing very successful builders and developers, about the only way to guarantee any promise is by pledging assets, other assets to attach in the event things don't work, and at a value sufficient to cover the obligation after the collateral is secured and sold.

I work in the Home Performance industry as a contractor, we upgrade homes utilizing building science and focus on health, safety, building durability, energy efficiency and comfort.