I usually get my deals off of the MLS because I am a real estate agent, but the deals are drying up fast.

Large land deals like that are usually more about timing than anything else.

You are still allowed to reject that unauthorized roommate if you find criminal or other negative findings from the screening.If you decide to approve the new tenant, just draw up a new lease for a 1 year term (or your choice) with the new rent and make sure all roommates are included on the lease. easier that doing addendums for rent and roommates etc. and you get them to commit to a new 12 month lease so you dont risk move-outs in the middle of winter.

Also, I'm curious about how these deals usually work.

Account ClosedYou can usually find out the estimated amount they own on the mortgage - if you want.

Do you usually find that portfolio loans are mostly provided by smaller local lenders (i.e. community banks) as opposed to regional or larger banks?

It all depends on what terms he is offering (seller financing is usually amortized over a shorter period with a higher interest rate).  

Do your research and make a good business decision based off of that and hopefully build a strong business model for the future.I rarely have a keyboard in front of me and usually do short replies on my phone.  

For the most part, when we go to court for an eviction we usually get a judgment.

I know that every situation is different regarding who the borrower is and the foreclosure regulations regarding the location, but I was wondering how often it happens and how the process usually pans out when purchasing a non performing note (whether a failed loan modification or initial purpose for foreclosure) and issuing a foreclosure.