How to Make Money Investing in Nonperforming Notes

The other deal we are currently working on is 39 individual condos that are being operated as an apartment complex in Houston. We have the note under contract with Regions bank at $600,000 and the income value of the property is at $1,100,000. We currently are marketing the property for a quick sale of $750,000, which will generate us a nice profit along with leaving plenty of profit on the back end for a buyer. We expect to flip this note in 90 days and generate an annualized return of around 100% (not including rental cash flow).