I do leases with options to buy in Arizona but in this situation I would sell and use that money to either flip or buy rentals or performing notes (if you want more passive income) and you would probably  get a higher return than appreciation would most likely give you.

Hi all, has anybody ever bought a non performing 2nd note from Wells or US Bank?

They can all hold on to a few non performing notes now.

I have them perform credit checks and background checks which includes criminal and past evictions. 

If you can get better performance from your IRA investing in things like real estate and notes than in the stock market, then that can be a good choice.To compare investing in real estate with tax-deferred funds as opposed to non-qualified funds is not really that meaningful because the tax situation is so different.The question is not so much, "should I invest in real estate with IRA or non-IRA funds?"

@Ali Boone How are the properties in the markets you are investing in performing? 

Assignee agrees to perform all covenants, conditions and obligations required by Assignor under said Agreement and agree to defend, indemnify and hold Assignor harmless from any liability or obligation under said Agreement.

Real estate attorney is the best person for legal contracts that cover every contingency you might encounter.You and your new partner need to clearly understand each other's duties and responsibilities and legal financial liabilities for failing to perform such duties in a timely and legal manner.Look before you leap and know exactly what you are both getting into.

Ultimately this depends on your marketing company's financial performance and the ability to service the proposed mortgage.

yes the northeast in general is under performing in comparisons to other regions. however you lose local knowledge,  but I would at least start looking at data.