With the hold periods on BRRRRs nowadays, your margins will get crushed with hard money interest payments/points/fees. 

Once, somebody older from our family mentioned that the sofa bed wasn't that comfortable if you sit for a long period of time in it.

Some lenders do a periodic search of ownership records of all properties in their loan portfolio.  

When I go into quickbooks, I can generate profit & loss statements any which way I like for whatever time period I'm interested in and see how each property is performing.

I saved up the cash over a 2yr period.

Hi Dave in Northern, NJ-I am sorry to hear you have a single family rental facing foreclosure.You have it in an LLC and wonder what your options may be to delay foreclosure.Lenders do not want to take properties back and have a nonperforming loan.The best time to work with your lender is as soon as possible but certainly before the sheriff's sale.After the sheriff's sale, there is a redemption period where you can still sell it and the length of time varies from state to state and may depend on if it is vacant (avoid that for a variety of reasons), if tenants have a lease and have rights, or if someone is occupying the property.Working with the lender may not be easy but do not give up.Also, reach out to investors, who buy properties in foreclosure or pre-foreclosure, and see if they would be interested in curing the default and buying the property.To Your Success!

Here’s what could be going on:✔ Legitimate Concern – Some tenants worry that HR inquiries might raise red flags with their employer, especially if they’re still in a probationary period.⚠ Fabricated Offer Letter or Pay Stubs – Unfortunately, fake employment documents are common, and verification through HR is one of the best ways to confirm legitimacy.⚠ Unstable Employment – They may have lost the job or never actually started, making verification impossible.⚠ Other Issues – They could be hiding something (evictions, unpaid rent history, or other financial instability).What You Can Do:✔ Ask for the official employment verification letter – Many HR departments provide standard verification letters upon request.✔ Verify pay stubs – Cross-check them with bank statements to confirm deposits match.✔ Call the employer directly – If HR is off-limits, ask for a manager’s contact instead.✔ Stick to a Consistent Screening Process – Fair Housing laws require uniform screening criteria, so making an exception for one applicant could lead to discrimination claims.

Pay Stub Record-Keeping and AccessSenate Bill 3208 obligates employers to furnish employees with copies of their pay stubs within 21 calendar days of a request, up to twice in any 12-month period.

Also, you should ask for an option period, i.e. the first 14 days of the escrow, so that if you need to cancel for any reason, you can get your EMD back. 

Between carrying costs, having to potentially raise equity and/or utilizing debt during the pre-development period  had I settled plus associated time, I  probably would have spent a similar amount of money.