The details are as follows,- Owner owns property free and clear (in Texas)- Owner lives in New Jersey (income tax state)- Properties are owned in his personal capacity- Has owned properties for >20 years with depreciation so definitely Capital gains is applicable- Financing 100% at 0% interest for 20 years (properties are vacant and need serious rehab, I will be investing around 25-35% in rehab's to get properties rented and therefore if I defaulted there would be equity in the properties for him)What would the tax implications be on the monthly installment?

Yes it said as default would classify as partnership or file a form for entity or form for s corp.

Pros: properties are affordable there (especially compared to MA), easy direct flights from Boston, great tourist destination (so there's a possibility to rent through AirBnB for supplemental income), tax advantages if we ever move there full time, etc.Cons: PR's default (could result in higher taxes), high unemployment rate, locals leaving the island en masse, etc.

Pawn shops lend you money on your property at ridiculously high rates and ridiculously low loan to values hoping you default so they can sell your property and not only recover their investment but a handsome return on investment.

I'm looking for a Pre-NOD or NOA list in Texas. Has anyone had in success with those types of leads? And could  someone give me a refer to a place that I can buy a list of delinquent mortgages pre-NOD or NOA list?

Forgive and forget and hope it gets better, or declare a default and proceed to eviction if you are able.

The Idea that someone should buy a note that had a buyer default and now is re performing and is somehow a quality note can't agree with that based on my experience in the trench's and actually doing this a few 100 times with homeowners.

It seems like you are a default landlord only because you couldn't sell your house.

I had heard some auctions open high because people have defaulted way early in their morgage.

The original first mortgages were held by 51 separate mortgages that were in default and foreclosure was started.