Best states for buying first performing/non-performing notes?

[Evan Maloney]

I've really been enjoying @Chris Seveney's Good Deeds Note Investing podcast. One thing I learned is that simply to own a note originated in certain states, you might need to be a licensed loan originator and/or debt collector.

I'm looking to get into note investing, and am hoping to identify the ideal state to get started. Presumably I'm looking for a non-judicial state without any licensing requirements. Any suggestions for a state to buy my first performing? How about non-performing?

Thanks in advance for any advice!

[Bob Malecki]

Of course Texas as well, although finding a well priced note in Texas can be challenging.