If you “negotiate” a 5% payoff with the borrower, and have purchased the note at a “deep discount”, say 80% discount from unpaid balance, you just took a 75% loss on your investment.

I drive past little hand written signs of land for sale on a daily basis.

Also, provide them with a flash drive with before and after pictures of your project and a rehab scope that list upgrades.

Location and cost were the two driving factors, sales prices for townhomes were significantly less than single family homes.

it gets boring reading the posts on here where everyone boasts about how they still drive a 1996 accord but have 20 rental properties.

I believe we will need to increase interest rates, which will have an impact on borrowers as well as others cost of capital which should drive the current note pricing down.NPLs vs. performing pricing? 

Setting up a MLS listing (although one with certain criteria - requires a concierge level service) is minimal time; but driving to see property (DFW is not a small city) takes time with pre-research, scheduling time with you, post-research, etc.

it would be strange for someone to forego HOA and keep making mortgage payments if they are in the deep..  

If we want a condo moved here right now, it means a deep discount. 

Its a very similar situation that happened to my son (19 year old) when he got in too deep on a flip and ended up selling before he finished.