Pros & Cons of Non-Performing 2nds

[Wesley Wells]

I was listening the recent episode of the Note MBA podcast (great resource) and they were discussing investing in non-performing 2nd liens. I became very intrigued on the topic but I wanted to get some feedback from active investors on the pros and cons of investing in 2nd liens. 

Any additionally resources on the topic you can send my way is greatly appreciated. Thanks in advance.