I am happy to share a form I use that helps alleviate the hassle along with a pdf outline

I don't think investors understand that in many foreclosure situations they are going to lose interest for sure and principal ( very common). the thought that 20 or 25% equity is enough coverage to alleviate a loss does not play out very often in a foreclosure situation.

That'll alleviate a lot of pressure.

They are like two different muscle groups, so why spend years working out your legs if your goal is to have big arms?

Birmingham is a very popular market, not sure if you're open on Florence and Muscle Shoals, Alabama where we manage.I would be more than glad to help you with insights... we won't just help you find an investment but we can also help you manage it. 

Are there any clever financial instruments or maneuvers that could help alleviate this $12k/month interest payment sum? 

Based on the discussions, I am going to keep these properties for some more time and RTR are providing me with some financial assistance that will help alleviate some of the losses.

One of the most important aspects of managing your property is ensuring you place solid tenants in your properties, which will alleviate problems down the line.

My aim is to not only profit financially but to gain in the process some intangible assets, such as project management skills, getting to know reliable professionals (i.e. realtors, contractors, designers, etc.) for the long-term, getting acquainted with the local market's promises and pitfalls, and basically adding some entrepreneurial muscle going into my next project.My strategy is to go small: find a second-hand apartment in a good location (I don't have enough funds for a GREAT location...); no more than 60-70 m2 (that's about 650-750 f2) to, among other things, lower renovation costs; 1-2 bedrooms, street facing and with a lift (if said apartment is above the second floor); with good bones, i.e., needs only partial renovation.

Huntsville is a very popular market (and there are short direct flights from DC too), but I would encourage you to take a look in Florence and Muscle Shoals, Alabama where we manage.If you are interested in the Shoals area, I can help you with insights regarding economic vibrancy, market dynamics, investment strategy, high-ranking public-school systems, etc... and a turn-key experience by helping you find an investment and managing it too.