If I acquire 1 new note every 3 months, it will take 7 years to hit my initial target.I know this doesn't include notes that turn NPN, I'll have to read more about that.

My initial thoughts is that they may have been in default but there is no lis pendens.

My immediate initial goal, similar to many others on the forums, was to purchase a multifamily in the area and house hack but it unfortunately seems that the supply & demand in the D.C. / Northern Virginia market is way too saturated to make that strategy worthwhile.

Is there a step-by-step outline for this? 

(according to property tax record)  Going up for courthouse steps auction and Hudson Marshall is the marketer.

I don't have any earth shattering secrets you can't find in books, but I can share actual experiences, timelines, prices, rehab costs, insurance costs, rental roles, property management and tips for how I've created a 19 unit portfolio worth almost $1M and generating over $100k annually inside my IRA, starting from a relatively small initial investment.  

If he does so, offer to give him a good reference.I cant imagine talking to a lawyer over 50 bucks.. just take the check.. write them a nice letter and tell them that the late fee should be on the next rent payment.I have seen so many landlords step over dollars to collect pennies.. you going to evict someone over 50 bucks and now have vacancy with the risk ( depending on your area) that comes with that and the lose of rent.. this to me is just not wise move.. 

My initial projections based on a buy and hold analysis are:$1550 a month in income(Lots of assumptions here)$904.78 monthly expenses(Including maintenance, management, and the vacancy rate)$645.22 monthly cash flow23.45% pro forma Rate$9240 net operating incomex 50% for expenses equals $775Monthly interest/payment equals $124.78Total monthly cash flow using 50% rule equal $65082.90% cash on cash return on investment30.90% purchase cap rateTotal operating expense $780 dollars a monthAs I stated earlier, the house is close to downtown and the State University.

After listening to podcasts, reading a few books, and reading this blog,  I feel that I am ready to take that next big step. 

I've been listening to the bigger pockets podcast for a couple weeks now and am looking to make the first steps in investing.