You'll need a fairly sophisticated financial model in order to iterate through various scenarios and find attractive options. 

Or, if you are a little more sophisticated you can joint venture with someone in Idaho or Arizona where property costs are reasonable.

IE credit card company already has the judgment.they do exactly what your talking about.they wait about 9.5 years.... by then the debtor figures that debt is long gone. and if they have not filed BK these guys move in and file their garnishment and clean out their accounts.. they have very sophisticated tracking programs etc... debtor gets the shock of their life.. they will usually also negotiate and give back some money so they don't end up on the street but they get a payment plan out of them with some money down.they buy this debt for 5 cents on the dollar generally.. which of course is what you need to pay if your waiting that long and going through the collection effortsI am not sure on the RE notes..

We have used them in cases where a 1031 Exchange is not appropriate for the client and the client is a sophisticated investor that understands the risks of implementing such a strategy and is willing to assume the risks. 

A lead lender which has greater sophistication in lending than the participant; and6.

@Robert Herrera has a much more sophisticated approach and IMO requires a more than average level of knowledge and understanding to pull off.

I like the color because it is modern and neutral, yet sophisticated.  

There can be a world of difference between loaning money to an individual or very small company and lending to a sophisticated borrower like Wal-Greens. 

You will look at deals in a much more sophisticated way then you ever have before. 

Maybe I have not reached that level of sophistication in my life where I find questions that people ask to tacky or offensive.