These are second-position loans and are easily wiped out in foreclosure or bankruptcy.

It’s a friend of mine house who has been going through this foreclosure/bankruptcy for for 8 years.

I'm in Kentucky and I've lived in the south my whole life...I believe, as do others I've talked to NOT in the south, that the south east (excluding Florida) has some of the best cash flow available.Low cost of living, high consumer bankruptcies and low earnings when compared with the rest of the country.

I have a lead list for both pple who have tax liens on their property and for those who filed bankruptcy...I can't mail to them all (lists are too large!)

Which they're waiting on financing approval on that project as well.I'm not the smartest guy, but from some vague conversations with a lawyer.. he's saying this all just ends up in bankruptcy court and I'll be lucky to get back 70-80% of what we've put up for money, on top of having to pay his bill. 

Vetting rehabbers, loan servicing, drawing notes, filing nod's, tax returns, lending attorneys, bankruptcy attorneys, REIA meetings, escrow officers, title officers, appraisers....and on and on. 

Even if you grow one SFR, it will have equity in it that isn't protected under bankruptcy rules.

.- Understand and preferably at least kick the tires on different strategies: Brokering, NPN workouts, 1st liens, Jr. liens, NPN --> REO, Partials, Bankruptcy, rentals, flips, etc...

Confirmed that Freedom Mortgage can do a 550 score (middle of 3 scores) manually underwritten FHA as long as no bankruptcies or other major issues.still not the solution but very close.

There are a few automatic denials, like open bankruptcy, current eviction.