Optimumly, I'd like to give him the house, be awarded a judgement in the amount of $70k+ and be done.

Looking for comments on what I have so far and what has worked well for you.Here is what I have so far:-Complete the rental application in full, no false information-View the property in person-Ability to pay deposit and first months rent within 24 hours of approval-Household income of at least 3x rent-1 year of stable documented income (job, govt assistance, ect)-Positive rental history or cosigner that meets all requirements -No landlord tenant issues (judgement, evictions, broken leases, damages, ect) for 5 years-Current on all bills (excluding medical)What are your thoughts?

I have a couple of wiped out seconds that I am exploring the possibility of getting a judgement on. 

The one for July was scheduled for a hearing and I got a default judgement in August, then I filed a Petition for Warrant of Restitution and a few weeks after got an email from the sheriff that the schedule for eviction would be on October 5th.The tenant abandoned the property September 29, just six days before she could be evicted.

I haven't attempted to buy a 2nd lien position before, trying to wrap my ahead around the strategy-here is the deal i am looking at:1st position lien: 2004 balance of $36,000, to date - 1st hasn't issued any default notices so i am guessing it is current.2nd position lien:2007 balance of $35,000, Foreclosing lien @ Final judgement of $62,000.there are no other superior liens such IRS etc..ARV is about $150,000, so good equity if ill be able to buy below judgement.I am assuming that buying the 2nd position loan will give me title the property subject to the 1st loan..will i be able to directly negotiate a payoff with 1st lender ? 

they can take any equity in the property or even have the property itself sold to satisfy the judgement. 

The Warren Group (previously Real Data) is your best resource because they track ALL of the NH real estate transactions and show which mortgage co is foreclosing, date of auction, foreclosing attorney, original balance, second mortgages, liens, judgements and attachments.

So again we come to a judgement decision.

This would not be done as a regular practice by any investor as there is no guarantee of repayment but is a legal loan which recource is to get a judgement against the person, then a garnishment, if possible.

I used a friend for funding against my better judgement, now we only use HMLs - it's actually cheaper and a lot less grief.