I'm starting to see more private note holders reach out to get a loan against the performing note they hold. 

I'd love to start hosting asap and I wouldn't allow the guests access to the kitchen (though of course they'd have access to their rented rooms, bathroom etc.).

Start with the end in mind --- what would be the investor's exit strategy for this home? 

When starting out it’s a pretty good deal for someone lend you all the money and you give them 50% of the profits.

Im also interested in starting to invest in housing whether that be flipping, BRRR, etcMy wife, 54, is newly positioned social worker and climbing to what she feels is her max with clients.

BUT, the time to START acting is likely now.

As you start changing HVAC, windows, etc your budget certianly goes up.

Here is one recommendation as you begin your REI journey.Make sure to have your team around you before you start, or as Brandon Turner from the BP podcast calls it, your CORE4. 

A foreclosure initiated by Ocwen won't touch your credit at all as you are in a second lien position and not a direct holder of the loan/mortgage.If the foreclosure starts you might be able to recoup the money or lose it.

At least you have a starting point.