I bet there are a lot of people who wish they'd done something like that instead of getting stuck with years and years of loan payments.I bet that having the experience of even that one deal is going to help you in the long run.  

I'll bet you get a comment on it 8/10 times you show the place.

Bank regulations simply would not allow FDIC-insured money to be invested in such a poor credit risk but the beneficiaries of the deceased man's mortgage deserved payment so they sold the non-performing mortgage to a Boise " Private Note Purchaser" for a small fraction of its face value because the heirs lived in a small community and did not want the infamy of being the ogres who would compound the misery of an unlucky family by seizing the home through foreclosure after the occupants had suffered the loss of their son to childhood disease.The Boise opportunist had no such inhibitions.  

I am definitely inexperienced so I am thankful that I can rely on you guys for guidance.As a side note, I ordered "Rich Dad, Poor Dad" and "The Millionaire Next Door" which should be here tomorrow.

Sometimes up to a week if there is high humidity, low temperature, or poor air flow.And as mentioned earlier, the end product may not align with expectations in a higher-end property, but will be great for at least a B property.

Many of the techniques they use, driving for dollars, mailing campaigns, bandit signs, are your best bet for identifying and contacting owners of properties that are going underwater and may be looking for a way out.

So I'm asset rich and cash poor. 

Rich Dad Poor Dad speaks on good debt vs bad debt.

Those will be your best bet if holding on to a property.

The other issue is ROI - you'll need quite a bit of plumbing; if you have a lot of galvanzied pipes in poor condition and low pressure you may want to consider pex anyway, at that point you could seperate the systems out.