In my contract with the investor I would handle foreclosure and legal fees should the borrower default, but would recover them upon resolution of the default, be it foreclosure, sale or just a workout where we have a resolution.

You need to create an LLC resolution that legally authorizes one of the members to signed all COE docs.

I made it a new years resolution of mine to get back into reading books and the first book I read was Urijah Faber's the laws of the ring which is basically about discovering your passion, inside of the books he talks highly about rich dad poor dad which made me want to read that next.

The administrator of the coordinated review program must select a lead disclosure examiner and, where applicable, a lead merit examiner, which are responsible for drafting and circulating comment letters to the participating jurisdictions, and for seeking resolution of those comments with the issuer and its counsel.So not much is different in these statements from what Mark claimed other than the 1-year item for 10%.  

Resolution can happen by successfully negotiating with the unions, retirees, and debt holders (by far the most important group to resolve things with) or it can end up in bankruptcy court.

Nothing like reading a thread without any resolution haha.

I'm very impressed and inspired by your resolute decision to take on REI.

Be prudent, but don't panic, get with a real estate attorney and explore resolutions that are in line with the outcome in the best interests of your IL's.Good Luck.

OK, I admit it, it's October and a little late in the year for making a new years resolution happen, but now then never.

I  would rather focus on resolution as I have dealt with these situations although not as a landlord, focus on the welfare of this  3 year old you may get some action.