Grant, as long as regulation allows it, it's definitely a viable option.

If you operate your business professionally and follow all the regulations being taken to court will teach your ex tenant a nasty lesson and cost them money.If you make a mistake and have to pay some money back it is still better than offering money you do not owe out of fear, always make them work for it.

I know that every situation is different regarding who the borrower is and the foreclosure regulations regarding the location, but I was wondering how often it happens and how the process usually pans out when purchasing a non performing note (whether a failed loan modification or initial purpose for foreclosure) and issuing a foreclosure.

You should also be asking how to get rid of them in the event you decide you are interested in upgrading the property.Study your state landlord tenant regulations and you will find most if not all the answers.

On the subject of non performing notes, When discussing and implementing a loan modification with the borrower, are there usually state laws or regulations (In general and/or at all) that come into play and how much do they affect loan modifications or if at all?

Home is located in Frederick County VA and having a hell of a time finding any regulations on rentals in this county and wanted to see if anyone here knows if there will be a problem renting home based on low ceiling height. 

Oakland adopted new regulations for secondary units a few months ago and the unit I had planned would have met the requirements.

Understand that dealing in real estate, that is fairly well regulated and carries compliance requirements which are not areas to be ignored or assumed.

Are their ongoing discussions in the town regarding implementing such regulations. 

Plus having a license from the FL Department of Professional Regulation.