Nervous Note Newbie

[Micki M.]

I've been learning about note investing. I took PPR's performing note course and I really love the concept. I finally found a re-performing second in my price range that looks good numberswise and has the added bonus of being located nearby in Colorado (should the worst case scenario happen and I have to deal with the property itself). I was sent a bunch of paperwork, and I did my own research into taxes, liens, and FMV - helps to be a local realtor in this situation.

It's my first purchase and I don't want to miss a key item so my question is, what documents or information do I need to make sure I've researched?

Here's the deal FYI

$45,897.17 Second Lien – List Price $24,500

FMV: $275,000 +

SR Lien Balance: $198,000

SR Lien Status: Current

Coupon Payment: $247.63

Interest: 5%

Payments Remaining: 356

Thanks!