Should I attempt Sub-2 or contact the bank and try and work out agreement before foreclosure?

How much of this do you feel you need to supervise, and how much can you say "be respectful" and have them work out? 

They can work out that payment situation..... who is paying what/when/how... not my problem The deposit is on the property, not the individual.... its stays with the property- if the "move out person" wants their portion now, they can get it from the "stay person" and the "stay" will get the full amount at move out.

But if it doesn't work out as you hope, then you take some lost. 

Aside from a couple texts and emails, my tenant has ignored all attempts at communication even though I offered to work out a rent deferral or reduction plan at the beginning of the pandemic if needed. 

Hi I’m Christian I’m currently trying to work out a deal on my first investment it’s a 4 plex and it’s been a struggle but Ik it’s worth it

.- KarlHi Karl, see if you can work out a temporary payment plan or partial rent arrangement.

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

There are definitely horror stories, but MOST of them work out well.

I am not a big fan of these properties simply because I have been on so many calls over the years with investors that bought this type of stuff and it didn't work out.