We can always pay them down earlier if we decide to later, but having seen the days of 8-10% mortgages, we're amazed that we can lock in 30 year investor loans under 5% (our last one was 4.125%), let our tenants basically buy our homes for us, and build up the cash flow to use for the next one.    

Basically the house sold for $120,000.

In doing so, I have started forming a Private Lenders list and have started some basic conversations.  

I always tell potential  tenants upfront the basic requirements for getting into my rental.

I'm looking for groups to network with that aren't predominately geared towards complete newbies or that are basically centered around a sales pitch.

I use J Scott's spreadsheet as a reference: http://www.biggerpockets.com/files/user/JasonScott/file/13-rehab-analysis-spreadsheet---basic

With that broad parameters they set, I am planning to put a cap on finishes as part of the proposal, say for tiles it will not exceed $2.00/sq ft on the finish material (grouts, mortar and etc not included as finish material and represent tile only), or give out colors on the countertop (ie gallo lines), so they would not choose anything expensive, basically I will be setting cap spending on top materials.

Hi all,Still trying to wrap my head around the basics of note investing.

Oh my God you got tricked by an agent!

The information could be from basic probate knowledge to marketing to anything you have.And yes I know I can use the search bar for probate info and yes I do take advantage of it