Where should a Note investor be watching?

[Chris Jackson]

Hello BP!  As I'm researching and learning about Notes, I get more and more excited about the idea of being able to invest in other markets besides 'my own back yard'!  So I guess the question is, WHERE are the best cities to be keeping in mind (or the best states) for investing in Notes?  I understand that maybe around 20% (according to one big note investor I just heard recently) of your Note investments will inevitably go through foreclosure and I understand that foreclosure can take a lot longer in some states than others. So I am wondering which cities I should keep on my radar as I continue in my research, and maybe look through some of the online Note Auction sites.

What do you think?