I personally would always play the role of GC myself.

I owned the property outright in Connecticut, so I actually pulled out at closing once I saw the fees, I just couldn't continue.  

Unfortunately it’s very probable you will be responsible for this unless there is a statute of limitations in your state which could come into play.

Two would like to sell and one would like to continue. 

I hope that things continue to look up for both you and the park and that this success will lead to other deals in the future for you. 

I'll continue using it when I add new properties until I find something that I need that it can't do.

The other options you are playing with fire as using a HELOC that is paying interest is essentially buying with 100% financing.Having no skin in the game has always been a high risk strategy and people were able to get away with it the past few years due to the money supply and inflation but I would not use that as the measuring stick.

I have been through the BK route more than a few times in 40 years of HML ing.. and as Don states it can be just crazy what happens what the debtor will do what the BK trustee will do what the judge will do.. that all said if your position in the note is discounted enough probably still worth it. but in my mind to pay 90% and if there is not SIGNIFICANT upside I personally would not do it unless you have a repositioning play or something that no one else sees. 

The buyer bought the property from the heir and ALLOWED the property to continue to tax sale KNOWING it would sell for MORE than they paid the heir!

I do plan to start investing and in the meantime want to continue to learn from seasoned vets!