We not only offered them a better comp package, but we offered them the opportunity to work for people who knew real estate investing as investors, not just as lenders. 

If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

If they stop paying, I foreclose, but still keep making my payment to the underlying lender.

There are a lot more condos for sale now compared to the past few years, but we still haven't reached pre-Covid inventory levels. 

Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.To compare the financial impact over 10-20 years, we want to analyze renting versus flipping.

A note failing after two months is a pretty rare event Aloha is a very experienced lender. 

(+1 sub)speaking of uncut gems. it's interesting that was the movie you were going to watch, given your situation. can't really compare RE to gsmbling, but the guy had heart and wouldn't give up for nothing. great job on persevering thru this storm! 

You would need to let them know you are 2nd lender and want to pay the loan off.

Other than that, it is really a light doc loan with not many strings attached compared to a conventional mortgage.

Quote from @Mark Simpson: Interesting use case for ChatGPT Operator:I asked it to do a market analysis and compare a random Airbnb listing to others in the area.