Owner Financed NPN Question

[Bill B.]

Hi!

I'm evaluating two NPN investments. The twist is that they are Owner Financed notes.

Are there pitfalls and/or unique issues tied to the fact that the investments are NOT institution based, but owner financed?

I'm most concerned that the note and mortgage are legal and enforceable.  

Can someone point me to the "south forty" so I can plow it for this information?

Thanks!!!!

Bill