Hoping to hear all feedback from anyone who has had experience, positive or negative, with purchasing non-performing notes / non-performing loans. 

Fast forward 4 months and multiple lunches later, I was performing all kinds of tasks for him and soaking up as much of his knowledge and experience as I possibly could!

First ask if there are any areas you should completely avoid (as a couple people) and if they all say the same thing its probably a good bet its true.

Finding a renter who would allow you to perform repairs would be hard, but it sure would be awesome to start collect rent while fixing up! 

your best bet is to have one on your team, and consult with him on this matter, i am not a CPA but i believe all those improvements should have been put on your taxes the years that you had the work done, it would have increased the asset value then and kept adding as you did the projects and reported them. i think you are in for an uphill battle now. the work you may have done say 5 years ago can't just be claimed now, there is 5 years of depreciation that is against that work that the IRS will claim you lost out on, so that will have to be deducted from your numbers.

If so, how are they performing?

I bet the neighbors will be happy when it is finished.

There are great concerts at the Kauffman Center for performing arts and national acts at Sprint Center.

I also found out what was the zip codes that  would be ta better bet to invest in the city, which I did in doing a search on BP.  

If this was from an inspection you had performed, a.