But if we sold the land to the builder with comps close to 240k in that area, you would still make > 20 grands.

So on those projects I had to take them over and I think at best we got principal back and on one or two might have lost a few grand..

Lenders that would do that already went out of business, and/or stopped offering it, in 2022/2023.To get the 11% lender on board, you'd needing to be looking at a property with vastly more significant upside than a standard ho-hum annual 5% rent increase.A 30% vacant mismanaged apartment building would be an example of where the 11% lender would step in, and ACTUALLY make it to the finish line.What you are looking at right now is someone that's going to garner 20 applications with the hopes of finding 1 or 2, with enough upside, to actually fund.

I'm from Grand Junction Colorado.

It's always been my investment thesis to thread the needle of a place where a lot of people go but is not top of mind for rich people to own a second home.I like National Parks or Nat'l park sites that get 1M+ visitors per year but are not the big ones (Yosemite, Yellowstone, Zion, Grand Canyon, etc.) and have a median home price below the national average.

4) LTR projections range from $1600, which is from bigger pockets rent estimator to about $2500 from looking at comps in the area.  5) Top properties do about 10 to 15 grand more potentially, in 50k+ range which we would be happy with.

Is the property in Grand Rapids? 

Now every scenario is different but in the grand scheme of things most people related conflicts can be avoided.

so what's the actual grand total?

So when the foreclosure is attempted they end up getting cancelled and it creates the Zombie foreclosure.What would be interesting is finding a way to easily locate a list of zombie foreclosures.John I had my first one as well. got contacted and owner said bank just mailed the deed.. saying they delayed foreclosure to long.. the seller was about to lose it in 48 hours at tax sale  so I cured that.. and then did a JV with him taxs were 20 some grand..