You also don't have to be licensed to sell notes in most states, FYI.If you disagree I would love to hear specifics, as to what you think makes a note liquid, as all you have stated is liquidity is the ability to buy and sell at will.

This is in regards to a specific deal, so for the sake of context: The property is Vacant Land, originally had a house that the city demolished due to abandonment by owner. 

If you have a specific property in mind you can get a free preliminary title from the title agency that you intend to purchase your title insurance policy from.  

Therefore, make sure there is enough margin for unknown expenses.

Do you have a specific property or few properties that you are looking at?  

I too believe the deal sounds marginal.

You are never going to have all the answer, every deal is different, what works for one investor in one specific deal might not work for you. 

Do you prefer a 401k vs a IRA for any specific reason?

Specifically, Shoreline/Edmonds/Mill Creek has caught my eye as I feel Seattle proper is far too expensive and overpriced.  

Just think about all that time and money you waste buying materials and hunting for the cheapest guy for every job or task.I personally like fair; my GC does not need to be buying a Ferrari or cutting a million dollar paycheck from all the work we give them, but they do have margins and need to make a fair living for the line of work they provide.