Honestly we have been too busy with other lead sources, and with how the market has been that I cut back on probate leads.

I'd just outline a clear cut criteria to make your decision making standard.

The reason I ask is if the loan is near market rate (versus the rates available 2.5 years ago) then a refi to extract sweat equity could make this more worth the effort, risk, cost. to be blunt, with the numbers as presented and without any extract of value (refinance), I am unconvinced that the smart move was not to re-rent in current condition for $1k.  

I don’t mind regulations and have them at our property in Lake Placid, NY it’s just a matter of knowing what they are and how much it cuts into the revenue.

If they cut 1/4 point per meeting rates could come down by 2 points in a year.  

Get into some other facet; money lending, storage units, flips whatever but you my friend are NOT cut-out to be a landlord.

You might wholesale them, or refer them to a wholesaler for a cut of the deal if it closes. 

Begin with smaller places to cut down on risk and learn as you go.Good luck!

One possible large impact would be a minimum setback requirement from the railroad to any development, which could drastically cut the usable land. 

Log cabins get flagged as risky and even if they get done leverage is cut.