Large land deals like that are usually more about timing than anything else.

Also, I'm curious about how these deals usually work.

Account ClosedYou can usually find out the estimated amount they own on the mortgage - if you want.

My bank charges an extra half a % to the rate, on top of the investment hit etc.

It all depends on what terms he is offering (seller financing is usually amortized over a shorter period with a higher interest rate).  

In my opinion, yes, it can be done, but you're looking into a bigger mess as far as the government is concerned.Lets preface this with I don't know exactly how this works either, but after a certain amount of people are involved you have to report as a Real Estate Investment Trust (REIT) and have to file extra forms related to your business and also after a certain threshold you also need to report members and their distributions to the Securities Exchange Commission (SEC) so they know as well.Being young (as am I) you are going to run into a lot of dead ends trying to apply for a residential loan with a business name.  

For the most part, when we go to court for an eviction we usually get a judgment.

I know that every situation is different regarding who the borrower is and the foreclosure regulations regarding the location, but I was wondering how often it happens and how the process usually pans out when purchasing a non performing note (whether a failed loan modification or initial purpose for foreclosure) and issuing a foreclosure.

On the subject of non performing notes, When discussing and implementing a loan modification with the borrower, are there usually state laws or regulations (In general and/or at all) that come into play and how much do they affect loan modifications or if at all?

Usually its a 1 page basic contract just to get control of the property.)3: Someone will!