you will find on the open market.. set ups like this will have few takers for the note..note investors will look at this as a cash out sell you the property type deal.unless you keep the NOTE VERY low LTV and give a great return.. but you may find a note newbie that will bite.. but note investors that do this for a living wont do it at least those I know wont.you would be just as well to find someone to do a cash out refi.. but in practice if you want to try.. simply have the title company prep a mortgage if its a mortgage state and a note and record the mortgage like any other loan.. 

The buyer may not pay, doesn't pay taxes, wrecks the place, etc.Legal action is possible but also takes time and money, that can be spend better elsewhere.So my question is simple, is there some sort of insurance/service that simply guarantees me that I recieve all my monthly payments?

The time and effort you will spend managing, especially during the first few years when you're learning the ropes and all of your state's land lord/tenant laws and best rental practices (advertising, showing, screening, writing a lease, scheduling maintenance visits, etc.) would make your time more profitable to simply spend working at Wal-Mart as a greeter

How do you estimate cleaning cost, is it simply a multiple of projected occupancy?

As far as landlord retaliation, it would be illegal to retaliate simply because they asked for reimbursement.

All real assets have investing dynamics of cashflow, appreciation, tax favor, and debt pay down (if leveraged), so if you are looking at an asset that has VERY strong cashflow but lower appreciation, you'll simply want to know that going in and compare it to how another asset that DOES appreciate would perform.In my market there is usually a direct correlation to cashflow and appreciation.  

@Stacy MansonAt this time with such low balance you simply don't have enough to do any alternative investments.

In CO, it's simply the NOD.

I want to simply have the buyer buy it from the court for 6,500 and charge an assignment fee of 5k.

Especially for simply spraying something on.Is that “spray on” product going to replace all the worn away asphalt granules that help with waterproofing?