Seeking Inight on Investing in Real Estate Note Buying

[Steven M.]

I have an interest in buying and investing in seller-financed Real Estate Notes, (performing only notes, residential only). What are some of the bigger "red flags" or issues/downsides to purchasing these Nore (other than the obvious of borrower's poor credit, undesirable neighborhood, poor payment history, borrower's initial low down payment/equity, etc)? I'm aware of the general concept of buying these at a discount, etc. Any insight you can offer is appreciated. Thank you.