The moisture retention is the issue, it doesn't breathe so it retains moisture which can lead to mold and wood damage around openings.

A bank or large brokerage may retain servicing locally but the note is usually sold anyway, so there is no reality of your money staying local really.

I don't see any reason for you to retain evidence that can be used against you in a lawsuit. 

Or do we get a chance to try and retain the bookings?

When i first started, I was doing the house hacking method, then my husband and I would do flips/brrrs in places were we could regularly drive by. to date, I have only invested passively in deals that I can't physically observe/participate in - but I'm a bit of a control freak in this regard.If you decide to invest in an area where you don't live- obviously pay attention to what these other folks said about location, sunbelt, etc.

North Carolina is an attorney state, so you will have to retain the services of a lawyer to close.I would encourage you to use a local (to your deal) attorney that specializes in real estate.

I had talked to an attorney in WA who let me know the retainer would be $1500 and after teh eviction was complete it looks about $4000.

Roy, I'll pick up suggestions in your other thread.Shari, other than ID and the buyer's copy of a sale contract I usually don't take documents from a proposed borrower.That said, I have, I have been pretty good at sizing people up quickly, how they carry themselves, how they speak, can they convey an idea easily, level of comprehension on the matter, even body language is observed and written materials are important aspects to me.

Great observation! 

it is far better to retain (and save more) capital while waiting for a decent deal to come around than risk it all in a bad deal. also ; markets change..