While engaging with the Bigger Pockets community, I've noticed many investors seeking funding.

Probably not much better time to try out the rental game and if it doesn’t work well, or we don’t like it we can still sell and keep the capital gains exemption.

I engaged with a builder that had built 22 duplex's and those were not moving on the local MLS in Vancouver Wa. 

Playing an appreciation game can be risky.

The marketing isnt that important in my opinion but the professional photo/ video is a huge game changer and I dont believe that someone is going to make much profit at .5% on the listing side.

A collections agency will be engaged to collect the rent owed if they don't pay.

Play the long game and focus on rent and home price appreciation.

It could be worth engaging with the MSO or the owner to explore adding a renewal option or gauging the MSO’s future plans.

Piggybacking off Peter's number 1 point- get the design team (architect and engineer) engaged as early as possible and let them get construction documents/drawings going as soon as you're sure of the deal going through.

But, the note doesn’t have to be in default for the note holder to engage in actively “managing” the note.