I actually prefer partial to no equity as I've become proficient in the workouts so I like a reduce price tag. 

I was crushed, but learned a valuable lesson...don't sleep a property when the numbers work out.

@Kevin Phu 1k is exactly what my assumption has been when doing my analysis, but unfortunately, that wont be enough cash-flow for this deal to work out.

On average I spend 30% of my day sourcing deals (marketing), 30% analyzing deals (performing due diligence), 20% managing the acquisition process (closing and funding) and 20% portfolio management (servicing, collection, workouts, etc). 

Its still a workout, especially using them on a vertical surface like this. 

Initial numbers work out pretty well but I'm still learning how to calculate the different metrics and which I need to pay attention to for my system, which is still a work in progress.

I'd repeatedly say, Yes, I'm sorry it won't work out, but I already stated no cats. 

Thus, I only look to buy notes whereby I have a high confidence level I can help the borrower with a workout. 

Over the course of the year or so we’ve lived there, it’s apparent it’s not going to work out.

Over the course of the year or so we’ve lived there, it’s apparent it’s not going to work out.