Or maybe refer me to a study course of some sort?

Work with a broker who will actually teach you notes (rare because they usually teach what they want you to know in dealing with them) another way is to self study by looking at various brokerage sites, talking with other investors and reading the note forums, the last way is to pay some guru who may take you down a path of showing you some method that is often expensive.To my knowledge, there aren't any "note schools" or education programs that do not have some vested interest in how you do things or where you invest......that may change soon.Non-performing loans can be worthless.

From a gray area standpoint, it's as bad as going 5 over the speed limit, or as bad as accepting that burned DVD copy from your buddy.

Could have an appraiser do a feasibility study for you or try doing one yourself.

I've been studying and reading the articles And forum posts here for a little while.

In any particular year for any particular property your actual results can be somewhat better (taxes and insurances are the bare minimum) or can be much worse (no upper limit.)

I studied and sacrificed when I first began.

We did this so that if there is an accident or something happens at our rental, our liability is limited. ...I encourage you to seek out a competent attorney because if you and/or your wife manage that property, you don't have the protection you think you have and you need to make sure you carry adequate liability insurance.

Limited liability is the most critical one.

The Sky's the Limit - Passion and Property in Manhattan - Steven Gaines