I have taken into account all of the items mentioned and for the first year while living it in I would be able to profit around 120 dollars a month on average.

But networking with local investors is definitely something I am interested in. I

Having a high income or net worth ("global factors") doesn't seem to factor in (I imagine it would factor in if personal finances were negative though!).   

I don't have a contract to use to lock the deal in. Is

Wayne IN.  I

The problem is the amount of learning you'd have to do just to know what a good non-performing note looks like THEN have to go through foreclosure only to move in is way more effort than you'd have to expend to just purchase a house traditionally.

Also, a house that looks "flipped" but is being lived in is more attractive to buyers in my experience.

Honestly it depends on the price range your looking in.  I

If seller signs with this clause in it then you can offer cash and you have your exit built in.  I

If so the work they are putting in is pretty minimal (Basically just setting up a search/subscription and the MLS does the rest) so the compensation should be pretty minimal.If it's a property that has just been listed awhile but hasn't been cancelled/expired yet then they would just be compensated from the seller via the buyer's broker commission.