The last one I finished rented in four days.  

Write it up as a personal letter.When you do all that, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash.

Neither the seller or the agent have to deal with the consequences of placing a poor tenant.Signed, Possible Pessimist

I'm also in Stamford, have been investing for the last few years.

Last I heard, 21% was a better return than 15%.  

., has been declining for at least the last 15+ years.Two longtime Gun Manufacturing Companies, and other companies left the State within the last year, and more are planning to leave. 

The "gotcha" is in the last part, 'subject to...'

Another reason for distressed land is because my local housing market is a heavy sellers' market (based on my limited real estate knowledge and after what I experienced purchasing my primary residence last year) so I'm trying to use the time while the market cools a little to invest in other opportunities.

If so, why would someone buy the last 5 years of payments on a 30 year note?  

Last month, I took $90K in a cash-out refi on the duplex, and used it to buy an $80K duplex, putting $6K into renovations (ARV $110K or better.)