@Robert WhitfieldIn general, you could expect something around 80% of the unpaid balance or a a resale amount that provides a 12%-15% yield to the purchaser. however this will vary widely depending on many factors; Home value, loan terms, location, loan balance, loan term remaining, etc.For example, I purchased a 283k bank originated note in Salinas CA (this is very different when compared to an owner financed note) for 222k. 

I bought a double wide in a lot in Keller for 40k cash I'm renting it for 1450 a month -560 for lot rent.

As I have researched what terms other people do (looking in these forums) and as I have talked to some other investors, I have seen a wide array of terms everyone likes to do on the private money notes.

Consider both types of appreciation/depreciation:Market-based, either from changing CAP rates (commercial) or market-wide value changes (residential)Market rent, meaning the rate of change in market-wide rent levelsNot interested in arguing the actual numbers - that's where the more information and familiarity you have for an area, the more successful you'll be at investing. 

If it's a smaller multifamily property where rents haven't been maximized, then that percentage will be higher and can vary widely from deal to deal.

That said, I've had similarly wide ranges of bids on projects before.

The lease is honored by the Court systems in MN and is widely used. 

I wouldn't go so far as to say it's done, but as an agent myself, I've cast an extremely wide net on my search and I have to be more creative in my searches.

This info may help. https://www.forbes.com/sites/anthonynitti/2015/11/24/irs-taxpayers-may-immediately-deduct-the-purchase-of-assets-costing-less-than-2500/#4171b1f93be7"De Minimis Safe Harbor: Under IRS Regulation Section 1.263(a)-1(f), landlords can deduct a wide variety of low-cost personal property items used in their real estate enterprise–even if the item would normally be considered an improvement rather than a repair.

So all I ask/say is please go in with eyes wide open.While my holdings in Raleigh and greater Raleigh are ~$2M less and 1/3 what they were 3 years ago, it is still a great place for most REI.