Texas is a non-disclosure state, which means that actual sales prices are not available to the public.The online sites like Zillow use hocus pocus algorithms to guess the sales price.

Non-performing notes are on the OPPOSITE side of the Active - Passive spectrum requiring several people to assist you, costs to evict or perfect, and servicing of owner occupied homes, many times, with required disclosures.  

Hi Christopher, quick disclosure, I own the company you are asking about.  

My lender sent me a disclosure this afternoon (Friday) saying they need it signed and returned before midnight today to be able to close on time.  

Paragraphs 5 through 7 discuss HOA's and the required disclosures.

It also minimizes the "tenant and toilets" issue your father has.Self-disclosure- I buy promissory notes, but also sell out of my portfolio in whole or in part.  

Full disclosure, I work for PENSCO.  

Most real estate lawyers will not do lease-purchases at all, since failure to comply with even the smallest requirement may trigger significant liability for the attorney preparing and filing the various disclosures and documents."

You will want clarity on all of the risks, how to market a Purchase Agreement (not the house), assigning (on and off the HUD) vs double closing, intent, disclosures and equitable interest.

Full disclosure, I am the CEO of Spartan Invest in Birmingham, AL.