I did a loan modification for her about a year ago when she couldn’t pay off the loan when it was due, but that has now expired.I don’t want to take the house because the loan to value ratio is too high.

Your friend if they can pay some might look into forbearance or a permanent loan modification reducing the mortgage down.

I think these questions are the most vital in determining if the house will be profitable or another expense.

Modification is my first choice exit as well. 

Borrowers may be willing to arrive at compromises that help their credit, such as modifications, if they are not yet at the foreclosure stage."

But I don't see on my hp12c how to calculate the yield.here are the numbers on one of my notes (by the way we're trying to do a modification for the homeowner).balance of note - $30,000payment = 225.65 (we would offer a 40 yr amortization)balloon in 15 years interest rate 8.75%there are also $10,000 in arrears (actually more but I'm willing to forgive some of the arrears).

The reason banks require consent, notice and agreement is due to their liability in not only a SS but any loan modification, assumption or other action in that loan in dealing with those held responsible for the debt and redemption.

But that there's opportunity eveywhere to find investors or professionals in the business who need good, hungry help and where you can learn vital parts of the business.  

If there was a defect for high cost loan, through a modification you can have the borrower affirm to not be able to look back and use any event prior to the modification as a defense in the future.

Networking in real estate investing is vital so don’t be daunted and go to the events!