The list is getting too long to keep track, problems and variations are almost endless, redemption rights are pretty easy to overcome with escrows if such is applicable.

—as security for a loan, the borrower has a contingent liability.The lender is not required to include this contingent liability as part of the borrower's recurring monthly debt obligations provided the lender obtains a copy of the applicable loan instrumentthat shows the borrower's financial asset as collateral for the loan.

We no longer consider any applications from hispanics that do not have a legitimate green card.

I noticed big developers here are taping into the build duplex and hold and they are renting well!

If you are going to rehab residential (or commercial) properties and you don't know the cost of pre-hung doors, vasement windows, cove molding, sheet rock and screws and can't use a tape measure you have no business rehabbing!

Also the application asks for loan account numbers.The rental application you guys use asks for all this information?

Main thing is how much you trust your family to be ok with this and how well you communicate. 7.5% is well above the AFR minimum rates, so you wouldn't have an issue, but definitly make sure to understand the Applicable Federal Rates (http://apps.irs.gov/app/picklist/list/federalRates.html).

. - Lender fees - origination fee, application fee, loan fee, doc prep fee, credit report, inspection fee, appraisal fee just to name half a dozen that you could be charged.

It is a great source of passive income.I recommend books and audio tapes found at www.jimmynapier.com on the subject of buying debt as a great way to become better acquainted with the business and how to get started.What may the best method for you to begin is to become an investor with a developer.

I did go over a wealth of information on this site, and a few tapes from the folks I know but was more keen on local notes as I feel I would be better off focusing on local.