The city is still getting property taxes. 

The math for investing was pretty obvious to everybody that it would be hard to lose money by buying a home for 50% to 70% of the rebuild cost.

I was out of college (just earned my degree in Culinary Arts) and was constantly running out of money.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

It would need to say that if it foreclose then There would be no money coming to the tenant.It sounds like you would like to give the tenant more than money, but we both know that would make things worse. 

Alternatively, I could explore hard money lenders.

If I would have bought a sustained portfolio with multiple units rather than starting with a single purchase I truly believe I would have lost a lot of money while my systems flailed rapidly attempting to catch up. 

So many variables can turn a deal sideways from 1 hour to the next - i.e. inspection findings, title issues, contracts, financing issues, taxes, dept. of buildings/local municipalities, etc.I'm glad to hear you made it through the challenges, and it sounds like you'll be able to leverage this experience as you grow your portfolio.All the best to you along your journey!

Many months of costly vacancy, local market rent & resale deteriation, special assessments, property taxes and maintanance fees suggest a quick sale would have been the wise thing to do 2 years ago.

What can go wrong, how to prevent those things from going wrong in a JV and tips for ways to solve those problems when they do go wrong.As a JV money partner, those are the most important issues.