My goal for the rest of the year is to purchase at least 6 of these cash flowing properties with a monthly income of $1000 or more and a minimum equity position of 150K .

The property simply must cash flow positive.

We aimed for $100+ positive cash flow or better on each home.

You then get a depreciation deduction and if the cash flow is then positive, you are taxed on that income.

...Positive or negative impact?

Construction workers, and investors, can change on the drop of a dime depending on their financial position.

Keep systematically working to get that first deal under your belt and stay positive.

No developer is in business to hold property any longer than he/she has to unless there are reasons to do so that will positively affect their bottom line.

Unless there's something very local that makes this property more attractive OR it really is cash flow positive once you consider all expenses, I'd sell it in a heartbeat.

Let them off the hook for the deficiency judgment, and let them get on with the life they could afford.I daresay most people in this position knew exactly what was happening when they took these loans.