When you buy the note, you can foreclose, modify the note and work with the people.When you are originating the note to an owner occupant there are a whole new set of guidelines to follow.

-Are you in a field that makes sense for you to be in the setting where the MFH is located?

Breach of warranty of habitability - tenant's remedies(1) If there is a breach of the warranty of habitability as set forth in section 38-12-503 (2), the following provisions shall apply:(a) Upon no less than ten and no more than thirty days written notice to the landlord specifying the condition alleged to breach the warranty of habitability and giving the landlord five business days from the receipt of the written notice to remedy the breach, a tenant may terminate the rental agreement by surrendering possession of the dwelling unit.

So if you've got a nice clean place for rent in SLC I think you could definitely set your asking price to a similar unit that has central AC.

The rates adjusts after 5 years.

The intent of the law is to keep people without knowledge of fair housing, deposit funds, etc from setting up shop without a licensed broker overseeing them.

Id like to get my first deal done before my enlistment is up as it would help me become a little more financially set before I become jobless for a bit.

You set the sales price based on the value today or what is owed.

Here are some good places to start: http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!

I look forward to learning all that I can so that I can begin in my own path of restoring my community.My main goal is to uplift my community and shift the mind set that "It will always be this way."