I followed the advise from Rob Beland and filed a 14 day quit and had a constable serve the papers to her. 

Document prep fee is to pay for creating those pieces of paper (AKA mortgage) that get recorded. 

Hi Mark - On paper this does not seem bad, especially for something in Northern NJ.

., the strategy looks and sounds good on paper but I don't think it would be so rosy in the real world when you go to apply it.

I also was a lowly peon paper pusher so it's entirely possible I learned some detail not exactly right. 

On paper, if he sells, he has lost $2,500,000 but if he does not sell and simply holds, he continues to receive the 3%.

If it is something where you are wanting someone to look over the real estate paper work, and it is a good deal, work out a deal with your agent (or another agent) to pay a small fee for their time to look over documents.  

@Dion DePaoli  out of sheer curiosity this morning I listened to a pod cast that interviewed the owner of Paper source I think it is @Bob Malecki  Bob said it was a good listen .the gentlemen being interviewed says that he has been buying notes since the mid 80's which of course I am sure he has.then he made what I thought was a pretty if not strange but unique statement.. the Kids interviewing them asked how he hands his foreclosures on his NPN... his answer was well " in 30 years I have only foreclosed once"  the kids were then scrambling as they did not expect that and of course its sound like they are personally buying distressed notes in Cook county and we know how tough that place is.

I also have a SFH in Bakersfield which has not appreciated and is under water on paper-but does cash flow for me so I just keep hanging on.  

No paper trail, no company logo, no office # except the Google one.