The reason for the fail determines where you can place the loan.

Quote from @Emory Clayton: Cosigners are screened just like any applicant, but they have to meet different criteria to ensure they can cover the financial side of things when the tenant fails.

GREED - This will push Better Real Estate much higher - IT NEVER FAILS.

They failed, worse I have seen.

And yet, you might be surprised how much foolishness you’ll uncover if you peel back some onions… one thing that I learnt from all these syndication mistake that is that before joining "such private club" is that "I thought I know most of the risk but I found out any investment project (even outside typical syndication) can fail to some unknown circumstances"......from plumbing to comps ............ there're just so many that i don't know. 

Fail!

You won't fail or succeed based on how competitive your market is, you'll fail or succeed based on your effort and expertise. 

The path to becoming a proficient flipper is a veritable graveyard, most fail, that's the un-marketed reality. 

Just in case you failed to make payments.

If the redeeming party failed to pay the money into court when they filed the lawsuit, then the one year did not stop ticking down and now they can't redeem.