They didn't extend loan maturities because they were looking out for borrowers--and the moment they feel the market is strong enough for them to liquidate the asset they will foreclose and/or force a sale to recover as much principal as they can. 

My friend spent $81,000 on marketing and told me he could not trace one sale to a lead generated by the program and that the program generated almost no leads anyway.  

It looks like it is for sale now at $112,000, and I wish you the best of luck getting it sold.

Of course, nobody forces you to tell a potential partner to tell the truth about what you're going to do with the proceeds of the sale.

Even that manager needs to be really hard worker and skilled in so many different areas...sales, marketing management, hiring, firing, reservations, computer skills, and more.   

Rental Income Consideration: If the property generated rental income while it was debt-financed, the portion attributable to the debt could have triggered UDFI.

I BELIEVE you can only exchange the real estate portion of your business.

I started my professional career in medical device sales and still do that full-time.

The title company takes the funds from the sale, and then pays off those liens and clears them.

The cash flow portion of real estate is often related to risk and sweat equity, which is a different aspect of investment.