How would a bank feel about that? 

Those prices tend to be blue collar areas with good to great schools.If you're interested we're having an Amarillo Real Estate Investors Group meeting tonight at First Capital Bank of Tx on Soncy.

If they seem interested, write up a letter of intent and send it to them with bank statements, showing that you have the money to buy.

Example with simple math/numbers - if Wells Fargo Bank has a $75,000 original note, remaining balance is $60,000 and it goes to foreclosure/auction on the steps of the courthouse, auction brings $35,000, what happens to the $25,000 difference? 

What are some common questions you get asked when explaining a deal to someone?

@Vincent Muller - Every bank underwrites rental income a bit differently.

She didn’t threaten me yet but she was getting loud with me and I was trying to explain that I was under the impression she abandoned the property.

We purchase 1st lien residential notes for hedge funds and banks.

The banks are steering me to do commercial (higher interest).

I wouldn't' bank on Sears.