Pitfalls of Buying Severely Delinquent NPLs

[Daniel E.]

Does anyone have experience in buying severely delinquent NPLs? What are some of the pitfalls? 

For example:

Borrower has not paid since 1995. 10-year statue does not start until maturity (2017). Appears no contact has been made, but loan has been sold twice. All files are accounted for, but payment history could be difficult to actually prove, short of either party proving payments.

Would you buy?