When you purchase a mortgage or deed of trust, that security instrument prevails over all subsequent actions on title with exceptions for government liens and taxes (and a couple other items).

I'm checking that site out right now.

There are numerous posts on this site about PMs - the good, bad as well as the ugly ones.

Shouldn't I be going by the the 40% rule since I plan to manage it myself, which if I remember information stated on this site correctly, subtracts the standard 10% management fees from the 50%?

So it might be fixed for 5 years, then begin to float at something like 1yr treasury + 3.25% (referred to as a 5/1 ARM).Google the BP site for "portfolio loans" to get more information.

We do have upfront fees for appraisals, Phase 1s, site inspections. 

Hello All,I'm new here, but have taken some time to read through this site for this question I have.

What a great site.

I've been doing a lot of research and keep coming up to this site so figured I might as well sign up since I spend so much time read the post.

Look on Craigslist and other sites for properties, and watch for owner financed properties, lease w/option, etc.