Quote from @John Williams: Quote from @Daniel McDonald: @John Williams like Bruce mentioned area is going to play a huge part. 

As you mentioned, there are plenty of coaching programs that cost a small fortune and may not be all that helpful.

And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

As you mentioned, it might be difficult timing the sales of each of properties where you can achieve a combined exchange (multiple properties into 1 property / or a few properties).Just a quick note that may be helpful - I work with a group of investors that can help with a combined exchange into a single property and will buy it back once you've found a replacement propertie(s) as the final destination for your capital.

Like Greg mentioned, I would be concerned with his/her responsiveness while I was living there. 

Banks do not sell notes to just anyone off the street.When you acquire the note, you are now a lender with a collateral interest, as Dion mentioned, get a deed in lieu of foreclosure, you could give cash for the keys.Over the years I've done this many times before the words "short sale" were ever adopted in real estate terminology.

One thing you can do right now: create the Furnished Finder listing with unfurnished photos, mention in the description that the property will be furnished soon, and start fielding inquiries and watching the unmatched leads section.

The only way to get help with the down payment before closing would be through a HELOC, personal loan, or private lender, as others have mentioned.

As Account Closed mentioned, the first question is to decide if you want to invest actively or passively. 

Why haven't any of the BP podcasts mentioned this?