The basic numbers are this.Original cost $82000 current value $150000.Comp Rent is $1074Mortgage is $450.01Insurance is $31.33Tax is $75.85I will be doing the property management so that I learn more about that side of the business and save on that additional expense.  

Basically the quicker I can pay back the local bank the better so I can do more deals.Any guidance is greatly appreciated! 

BTW  One of the principles is Crystal Smith, no relations.

The have a term for it that I can't remember at the moment but basically says by doing this you are attempting to be a Credit Bureau and take their profits. 

Can someone post a few links for newbies so that I can better understand the basics of note investing? 

So basically I need a source for smaller more specific lists...  

I think BP can give you some basics but its still a lot of hunting and pecking and might not be germane to your market or what you want to do..

If it isn't then don't even put the EMD forward.Do you put forward an full purchase agreement (that's basically the same per property) or do you just put forward statements of intent?

Unless things are different in different parts of the country but I don't think so... if you read the fine print of the warranty of tub reglazers there will be a paragraph about not setting anything on the reglazed bathtub ever again, meaning, no soap, no shampoo bottles etc... this is a pretty good indication of the resilience of the process, they are basically worried about anything on the surface for a long period of time causing moisture issues and bubbling the 'reglaze'. 

Is this a really basic question that I should know the answer to, or does nobody know?