Ok so let's say I buy a a non-performing note for 30 cents on the dollar and I know that the area is someplace relatively depressed like say Detroit.Let's say that the balance was $30k and the property is worth half that.  

My overall thoughts on the area are as follows and I would love feedback or additions to this from BP members: The market is depressed.

The insurance company paid them for their home and possessions but because their house was located where it was, in a depressed area, the payout was less than $100k.We've searched for the last month for a new home that they could pay cash for since they are on a fixed income and financing would be a challenge.

The more time you spend on Bigger Pockets, the more time you will be depressed about the market in NYC.

Depressing to hear that the money has really dried up big time for REI but also interesting.

I have personal family experience with this sort of hoarding behavior and I can assure you, the underlying disease (perhaps in this case obsessive compulsive disorder or schizophrenia-related mental illness) is devastating as you probably can guess. 

I went from really happy-go-lucky to very depressed. 

Even lower if the area is somewhat depressed and you want to go with 65%.I think I'd offer him a flat number, not a percentage of the profit.

I just knew she was originally asking $12,000 and now was asking $7,000.After being surprised, depressed, offended, and eventually happy to be looking at the fsbo home and talking with the seller; I was surprised at how easy it was to talk/listen with this seller.

After being surprised, depressed, offended, and eventually happy to be looking at the fsbo home and talking with the seller I was surprised at how easy it was to talk/listen with this seller.