My understanding is that the noteholder agrees to a settlement amount and the deed is hers free and clear.Back in 2007 an individual transferred a deed on a property with an outstanding mortgage of $535k in Brooklyn NY.in 2008 The seller passed away. since 2007 not a single payment has been made to the mortgage.

@Bryan Hancock One of the benefits of the old rules for accredited individuals was that they were easily understood.  

Hello and Happy Holidays everyone, I am in search of a new real estate attorney and hoping that someone, or anyone might have some good recommendations of individuals I can sit down, have coffee with and chat about investing.Thanks so much for your help. 

From reading BP articles and listening to BP podcasts, I’ve learned that hard money costs will be dependent on the project, not the individual’s income or credit score.

Ideally I would like work my way up to owning a few multifamily rental units.

Ideally, I'd find somebody who does that for a living, has a bunch of knowledge and is willing to let me tag along with him and soak up all I can, while trying to not be a pain in the ***. 

i'm very much interested in multi's. as of yet i've not found a good deal. some have come close on paper, but are too close for comfort when it comes to trying the numbers out in the real world.i happened to run a SFH through an analyzer earlier, though, and it is screaming potential. 29.49% cash on cash return, 11.95% annual cap rate, and ~$245 in monthly cashflow. assuming it's not too good to be true, what are your thoughts on me following a deal that looks like a great deal even if it's not strictly in my ideal criteria?

I had a similar situation happen where we were high bidder on a property but the agent convinced the seller who was out of town to sell it to a local individual who is well connected in the communityDefinitely was very shady but nothing you can do except move on to the next one

There are also individual training sessions on a variety of topics.

They do not automatically and completely shield an individual from liability.