So, here are the “main steps” to getting going in NPNs as it relates to my strategy as I see it:1.Find prospective NPNs for purchasing [obtaining from inventory of a company like Granite]2.Perform due diligence on the NPNs [understanding the defect and why note is now nonperforming]3.Analyze the NPNs that survive diligence [crunching numbers re upb, cost of servicing, etc. to see what max price I can pay while still having a reasonable chance of obtaining my desired yield]4.Negotiate and purchase the NPN [finding the “highest price I will pay for it”]5.Park the NPN at a servicer6.Instruct the servicer to contact the owner and begin rehabbing the NPN7.If the owner is amenable and an agreement can be reached, monitor the note until it is seasoned and then begin marketing the rehabbed note8.If the owner is not amenable or an agreement cannot be reached, foreclose on the collateral9.Regardless of which avenue was taken (either selling the rehabbed note or foreclosing), go back to step 1So here are my questions:1.How do I ensure that my steps 2 and 3 are thorough?

If I were to obtain an underwater home with an upcoming Auction date in Arizona.

Landlords obtain a Judgement, which leads to a hearing in District court.  

@Wayne Brooks and anyone else that would like to reply here is some more details regarding this short sale:The listing agent said:"we need a signed price addendum with the new offer price in order to obtain the approval letters.

Of course the water, gas, and electric will all have to be shut off indefinitely until the remodel is complete.I remember one time when I was a kid, my father became angry with me because I locked my bedroom door.

Would anyone either send me a copy (I can provide my email) or point me to a direction where I could obtain a contract that I could get my sellers to sign?

Has nothing to do with a title plant or time to obtain an abstract, it's an expense incurred due to seller's negligence in a representation to sell at an agreed price, tortuous conduct and while sale contracts generally don't spell out such damages, doesn't mean they are not obtained in small claims or courts.

How you arrive at reserves might be viewed at 3 months PITI on 6 properties in reality and the ability to obtain other funds needs to be kept in mind.A newly rehabbed property with new mechanicals or in good condition probably won't have any significant issues within a couple years, just do a good inspection and determine condition and estimate costs and begin a schedule to avoid deferred maintenance issues

They may want renovations and can't finance construction and do the work, many reasons, but it can be easier to buy it than to obtain construction funds and put your profit in the sale-back.

I am trying to obtain my second rental property and was wanting to do so through a land contract to avoid having to put 20% down.