So, all the normal options of selling the property, getting a tenant, negotiating lower payments, restructuring  the note, modifying the note, etc. are no longer available to the seller/borrower should the note be called due. 

Each Housing Authority may file an Administrative Plan up to 1 time per year to modify the Section 8 HUD guidelines.

@Andrew Postell @Scott SmithI have a question regarding a slightly modified scenario than what you are talking about. 

As a result, in a public search, the governor name would be me.If I set up a Wyoming LLC and modify the Operating agreement to have my WA LLC to be 100% owned by my Wyoming LLC, I assume I would still have to list a natural person as the governor of the WA LLC, and my name would still show up there.

We verify everything listed on their application as well as a handful of other questions (using a modified version of the one from BP).

Hoping to use a HELOC after we get this place fixed up and start a modified BRRRR process!!!

It gets fuzzy in south Jersey where the agents and lenders are helping to modify the contract, for example. 

Their leases are state-specific (which is standard these days) and can be modified

We modify the changes and electronically send it.

That’s it - no need to modify the existing lease.