You should know that unless the first mortgage files a release of lien, you will always be subject to the first lien.

I recently completed a thread on this same subject - look at my profile and take a look.Steve

Hi Friends,  I am looking for investor friendly realtor in Memphis/Cordova/Bartlett (TN)  area who dont mind submitting many low ball offers frequently.

Are there specific subjects you recall that were covered more than others?

It just depends how well you invest whether you'll become "really wealthy" which by the way, is highly subjective.

I would never pay retail but market price is subjective as the condition of the property could be as-is in shell condition.  

Do I want to take it subject to or pay cash out right (see question 1).  

You may be subject to seasoning on title meaning you'll have to wait 6 months after you've been on title before you can cash out.Stephanie

We have a clause in the lease (SFH) that tenants either sign up for lawn care or grass is to be cut no less frequently than every two weeks, and that if we get a notice from the city they have 48 hours to remedy or we will and bill them for the service - and after the second notice we take over lawn care and bill the tenants. 

Once you cross into this world, your costs of raising capital go up significantly.Another downside with having "money partners" take equity in a holding company is that they become owners of all assets of the company (and inherit all liabilities).You could accomplish your objectives by simply forming a joint venture with an individual money partner on a per-property basis.If you have not done so, give Steven Cohen and George Dubé's "Legal, Tax and Accounting Strategies for the Canadian Real Estate Investor" a read - it's and easily digestible primer on the subject.