Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

Good evening all!I was attending a local REI club meeting here in New York City and an interesting topic came up regarding distressed mortgages.  I wanted to see if anyone on BP has had experience with these types of ...

Best thing you can do is to participate at one of the many REI events in the area.

Use your key alert settings and make sure to set you key words to "new jersery" or "NYC Meetup" this way you can make sure to attend the next event.

Based on my numbers, if both rented out, I could be easily getting a CoC of double digits...Any feedback appreciated!  

cite=82.45If the property is owned free and clear and there is no consideration given then you can document the affidavit as a gift, making it a taxable event for you personally and not the Seller. 

@JP Smith   sounds like you don't own the property yet is the best I can decipher from your description of events...

There are risks associated with blankets, specifically exposure of all assets in the blanket, and necessity to release property in event you want to sell which could lead to unfavorable reappraisals...Having said this, your question is a risk/reward and strategy question.  

In any event, I'm not too worried about it anymore.Hope this helps

I am a private lender and I find borrowers through my profile on LinkedIn at REI meetings and networking at other events.