I really like Account Closed's ideas, especially a trade...maybe you can get an easier to sell property and flip it for more.Also, hold out and be patient.

If you are adamant about breaking into this type of investment, I would highly suggest that you be very patient and run the numbers as conservatively as possible.  

Hahaha Nick,As a new investor, be patient.  

Worth, Austin, Houston, San Antonio, and many other places are doing quite well.Be patient and consistent no matter what you decide to do and where.  

So we cover Sources of Capital, Finding Notes, Due Diligence, The Financials of Note Investing (with more in-depth case studies), Managing Risk, Exit Strategies/Borrower Management, Recapitalization, Note Contracts, etc.It also features a robust 17 page note glossary, FAQ's, and comes with a slew of sample documents and forms like an Accounting Template, an Assignment of Deed of Trust, a sample Billing Statement,  Credit Report (Sample), a sample Deed of Lieu of Foreclosure, a sample Discounted Payoff, a sample Fair Debt Collection Letter, Homeowner Authorization Template, Homeowner Options Letter (Sample), a sample Note and Mortgage, RESPA Letter (Sample), and Satisfaction of Mortgage or Deed (Sample), just to name a few.And although we no longer mentor, I should add we do have free Note Investor Q&A's calls bi-monthly that I host with my business partner who is the director of Borrower Management at PPR.

But just be patient..

There are a lot of resources and websites that can help with this but for me I found that I'm not interested  in becoming an expert in this area, so I still learn and dabble in this area but I have used a management company from the beginning which because I found a good one has been well worth the small amount of money I've had to pay them, they have been very helpful and patient in the old teaching me  some of the things I need to know about the local markets in real estate tricks.  

Right now prices are a bit high, but if you are patient and are flexible, it is possible to get a good deal!

There is soooo much potential, I just need some help from people who are patient, ethical, and love helping people.

Even better, make sure the listing agent gets a copy, they will have to disclose it to anybody else interested in the home.Overall, just be patient.