@Jose Castillo She also runs the Black Diamond REI networking groups that get together in Worcester and Waltham.  

YOU have a great eye for spotting a diamond in the rough!

There are some diamonds in the rough.

Young couples and flippers want those fixer uppers and drive the price up.Multi’s still present those diamonds in the rough that can allow you to determine the return because it is based far more on real numbers.My friends who rent out SFH here in N.J. and squeak by believing that they can cash out on sale or refinancing may be in very bad shape in the coming year.

If a diamond falls into your lap and guarantees a healthy cash flow and you need it fast, sometimes stated is the way to go. 

Here's a link to the details - http://www.biggerpockets.com/forums/517/topics/136...Whether you're interested in the apprenticeship or not, definitely attend some local networking events like @Mike Hurney 's, @Ann Bellamy 's Black Diamond event and you're more than welcome to join my quarterly networking event in Woburn.  

@Jason Branum  isn't it fun to find a possible diamond in the rough.  

REIA's and other Investment Clubs (Black Diamond) are great places to network.

I'm learning a lot from this forum, the podcasts and just recently from the first Black Diamond Real Estate meeting here in Waltham that I attended.I'm looking for mentors in all fields.

This may be more of a unique situation, a diamond in the rough if you will, as depending on the value of the home and the balance of the loan you may not be able to find many first liens with what seems to be likely a large discount, even for non-performing loans.