I just bought a non-performing 2nd note on a home where the 1st note is current, but I just found out the house is under contract and listed for 189K.1st note balance is 196K.2nd note balance is 51K.Market Value is 232K, but it's listed at 189K.To me, the math just doesn't add up.

Not sure about in Michigan, but mortgages are usually a matter of public record.

This is "non owner occupied" too. 

I know there are note investors in it for a longer period, but they are buying existing non-performing notes at a discount, making them perform, and then selling or holding. 

The numbers don’t really make sense to me but that’s non of my business. 

But YES, if they are month-to-month, you can give notice of non-renewal and provide the number of days as required in your area, which will almost certainly be cheaper and faster than an eviction.

This means appreciation is almost non existent, but if you buy the deal right cash flow can be amazing.

“It’s going to be a languid search for buyers this season as they face the harshest, most competitive buying conditions yet.”Inventory between $200,000 and $350,000 remains low and it is nearly non-existent for homes under $200,000, while new listings above $300,000 remain healthy.

But I'm guessing that's a non starter.Point is you can each get apart from each other using a 1031.

While his tactic is great for him, it is patently unfair on a non short sale deal.