It's not the worst spot to be in but the 3/1 setup wouldn't be near as desirable as a 3/2.

Wood siding and pitched roofs are more desirable and they will bring more money and thus a better clientele will buy them.  

It's always amazed me how I can write a letter which motivates a complete stranger on the other end to take a certain desired action.

asking if anyone knew of a way to sell a house without having to clean, make any fixes, or basically do anything.I emailed him to tell him some ideas, and it turned out he lived very close to me in an extremely desirable suburb.

I would connect with other investors in your area that invest in your desired asset class.

So, here are the “main steps” to getting going in NPNs as it relates to my strategy as I see it:1.Find prospective NPNs for purchasing [obtaining from inventory of a company like Granite]2.Perform due diligence on the NPNs [understanding the defect and why note is now nonperforming]3.Analyze the NPNs that survive diligence [crunching numbers re upb, cost of servicing, etc. to see what max price I can pay while still having a reasonable chance of obtaining my desired yield]4.Negotiate and purchase the NPN [finding the “highest price I will pay for it”]5.Park the NPN at a servicer6.Instruct the servicer to contact the owner and begin rehabbing the NPN7.If the owner is amenable and an agreement can be reached, monitor the note until it is seasoned and then begin marketing the rehabbed note8.If the owner is not amenable or an agreement cannot be reached, foreclose on the collateral9.Regardless of which avenue was taken (either selling the rehabbed note or foreclosing), go back to step 1So here are my questions:1.How do I ensure that my steps 2 and 3 are thorough?

Here are a few details about the property:In the Federal Hill area of Baltimore which is very desirable.2 Bedroom. 1 Bath, however there is plumbing, an old sink, and toilet that is "technically a half bathroom" per the owner.

As a property manager I would desire to disburse the funds to the owner as soon as possible as the funds no longer belong in my trust account.The owner's escrow account may take a bit longer to settle if there are unpaid maintenance bills, management fees, etc.  

There are also firms that will act as your resident agent in that state, if you need that or desire that.  

So, long story short, I inherited a piece of land in a downtown residential area of a highly desirable city from a distant relative.