You have to factor these in to see what kind of actual cash flow potential you might have. 

But it takes forever for the closing to happen.

We've been buying more and more product in Chicagoland and prefer to avoid Cook County, when possible, but, if we find a good deal, we'll bid on it.You have three main factors that affect timelines for NPNs in judicial states: the courts, the foreclosing attorney, and the noteholder.

-She keeps telling everyone she will live in this apartment forever, which is freaking me out.

Run the numbers this way and make sure to include property tax, capital expenditures and repair estimates at 10%, vacancy factor at 5%, property insurance, etc.

All we know is that the market will very likely not forever appreciate 7% per year but we don't know when it will stop.

Credit score, income to rent, other factors.

They never factor in risk.  

Performing Note - a note that has had consistent payments over the life of the loan and typically trades at 90-100 of the unpaid balanceNonperforming Note - a note that is delinquent and trades in a much wider % of UPB depending on many factors.

While it may seem like not such a big deal to say you'll live there and then not actually live there, it's mortgage fraud to do so, and is a felony punishable by up to 5 years in prison.Short sales take FOREVER to go through.