I will be going to the court house to get the copies of the papers that were served so i can share them with an underwriter so she can tell me if i would be able to restore the title if the papers were served properly.

Its usually printed on very thin paper.  

Though you are investing by purchasing the “paper” i.e. mortgage, the physical real estate is very important when evaluating a potential investment in a non-performing mortgage.

Looks like I may get hard money, unless I wait a few more months to get the income from my new job on paper.  

Our populations aren't particularly growing.I know that the interest rates are 4% on 10-year non-recourse GSE debt, and I know that on paper a 7 cap creates a 3% delta, but damn - it's a 1960es building in freaking Ohio.

If you don't, prepare to see people using bath towels and bedsheets.  

So your paper value may decline, but your cash position remains good.

Figure out how to make returns on paper. 

Looks like a decent good on paper.  

It's a great start, just know once you get in there and own the building, don't expect the same numbers you saw on paper.