Writing off non accrual NPN note

[Cody Krecicki]

Say I have a mortgage note with the unpaid balance of $50,000 and then original balance of $52,000 that is now nonperforming note also called nonaccrual being in over a year unpaid. 

Say I write that off against my capital gains taxes from other income. After I write off the bad debt and notify the IRS. What happens to the mortgaged property that has been vacant for a long while I've written off.

Say that there are over $6000 in taxes owed from the state on the property. I plan on redeeming that and putting it on the balance of the mortgage note.

Also say the mortgage barrower is on UN-contactable.