I'll update this post once I see how that goes!

I've tried to include relative information, without writing a novel. 

First, lets set some inaccurate information straight. 

Terrific post Joel! 

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway. 

However, this information is beneficial to the rest of the BiggerPockets members. 

Just trying to get started and although there is plenty of information out there, I thought the value was in getting the first deal with them and then learn how to replicate it.

That’s why I quit posting.

@Stacey OlsonRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Alternatively, consider bridge loans, HELOCs, or post-purchase refinancing to preserve liquidity.