I Have read many books and taken a few courses with a local investor in my town and feel my next step is to pull the trigger and make a move. 

If anyone knows that area of the world, is my Vacancy %, Repairs %, Capital Expenditures %, Property Management Fee % set up correctly or does it need to be updated / changed?

This would be a commercial note limited to 80% of the trade-in values of the vehicles and would be priced around WSJP + 2.50% with a 1% origination fee of the loan amount.

If your area doesn't license contractors I assume any legitimate company with the proper insurance to pull permits would be acceptable. 

@Dawn Anastasi thanks.... i'll go over there and see if it really reeks to permanent damage status.But I'm not a 1 strike your out type person.... especially if the situation is amendable(he's paid late fees and NSF fees twice totaling over $300)

Beware of State regulations for No Fault Evictions - - typically there are high relocation fees to the existing tenant.  

Pulling the trigger on that first deal can be difficult, but once it's done you'll be hungry for more.

As you are aware, the long standing tenant can get a lawyer and assistance from the housing rights advocacy agency.Which could cost you court fees, relocation and additional FREE rental occupancy for the tenant ( judges do this a lot). 

If the note went into default The investor had the option to get their original funds back or keep the money in the deal for a percentage split of any fees from a foreclosure sale.

For my heloc they waived the fees for the appraisal so long as you kept the account open for more than 12 months.