uncertain yet, just preparing to put it on the marketLessons learned?

The lender is given the first lien position on the mortgage or deed of trust (depends on your state), a promissory note is prepared and outlines the specific terms of the loan.  

Yes I have listened to "Investing with no and low money down" By Brandon Turner also, but I just want to make sure I am well prepared for my first investment.

I'm close to closing my first deal so i want to make sure i am prepared for that well in advance?

Always bring a contract, but be prepared for the seller to not be ready to sign it the same day.

I had my eye on a forclosed home that was bank owned (not sure what bank) but anyways I kept a eye on it for a few months while I was preparing everything to get pre approved and have a easy hassle free loan process.

Currently I'm only prepared to take on about 15%-20% down out of pocket.Trying to avoid getting hard money, but may be my only option at this point... anyone have experience with hard money and MHPs?

We were prepared to offer $187k but around the same time the seller dropped the price to $175k.

I am currently preparing for a bid that will come up in abut 2 weeks.

Make a plan and stick to it or be prepared to pay for changes.