Tough to stay disciplined as "Past performance is no guarantee of future results". 

As a "retired" public accountant and tax consultant I perform a lot of detailed ROI analysis for my clients. 

Number makes sense on paper but let's see how we perform at the beginning of next year. 

@Jay Hinrichs @Patrick DesjardinsWe rep and warrant all notes (both re-performing and non-performing) to be a valid lien and to be in the lien position as disclosed at the time of purchase.Our current performance warranty on re-performing notes is as follows:"In the event that a re-performing note becomes delinquent, or enters non-performing status, PPR’s Loss Mitigation Department will notify the note investor within 30-60 days and then attempt to address and correct the payment issue prior to the loan becoming 120 days past due.

The best will often ask for nothing until they set foot on the jobsite and really start with site set-up and demo. 

but I suspect homesites will drive the best values.. no one wants logged over sites for building ( generally speaking)  it works here in the Northwest because of the incredible shortage of buildable land. but in other areas not so much

Again, these are normally in the lower tier  neighborhoods that rarely perform on resale as their appraisal may suggest.

There is a potential scenario where an outside rescue fund (marketed as preferred equity to new investors) could come into play in many of the projects that appear to be performing especially if they have been paying the pref (via a reserve account stockpiled by over raising funds in the beginning).

We are renting them on Airbnb and on our site as wedding but yes Airbnb does not have that option yet.

@Kyle Carter we manage around 700 doors, with 92 of them being S8.When S8 applicants are properly screened, they can statistically perform a decent amount better than cash-tenants.