When the deal closes, you buy the note.

Note the concept of equity applied as a credit to the borrower after the sale, it goes further by allowing a borrower to show the FMV over proceeds obtained at a public sale. :)

It could be plenty since, as I noted above, the P/HML markets are very inefficient.

As far as whether you are "saving" money or not; think of it like this:If you could sell your house and buy a new house for the same amounnt as what you owe right now and that new house cash flowed 230/month on a 30 year note, most investors would tell you to dump the old property and go with the new one.

You can go a short sale route, might negotiate a lower payoof or purchase the note (covered here on BP) and then have the owner give you the property, maybe with a little cash to them to boot, or wait for the foreclosure.One caution, you can approach someone who is late on payments, but once notice of foreclsoure is sent to the borrower new rules apply.

Consider placing Door Hangers on target properties: You can also use pre-printed post-it notes to leave messages at target properties.

Side note on laundry, ask that they throw in machines that accept credit or loaded cards if you can in place of or along with coins.

As a side note, it may not be a true FICO score that TransUnion is providing you.

The legal description takes precedence over all of them.3)Have you looked at either buying the note/mortgage from the bank that references/attaches to the back lot?

When I speak with a seller or look at their property, I always send them a note with my business card afterwards.