In addition, 100 units would necessitate 100 accounts.  

The borrower has already signed the warranty deed, it’s being held “in escrow” pending the fulfillment or non fulfillment of the forbearance or modification. 

We paid $1.775 million for the notes, worked out a modification with the borrower, and received the first 5 monthly payments relatively on time.  

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. you can do a loan modification, which an attorney can draft for you or the loan servicer you are using can also draft it for you and you can give them the terms to review the documents.Also make sure to check with the requirements as in some states the loan modification will also need to be recorded.Happy to chat offline about more info on how to do a loan mod, we do them all the time (it does not matter whether its seller financed or an agency loan)

If there are any modifications to their current contract, ensure that the lease renewal is shared with them in advance, clearly outlining any potential changes.

You may have to make modifications or additions in order to get that signed off.

Several room modifications took place and rooms were added as well.

If I'm not interest in doing all the modifications will Padsplit still work with me? 

At first glance, it seems title just wants you to be a member-manager which hopefully is an OA modification (not public) that can be amended back later if you want to for whatever reason.  

You can provide a loan modification approved by the bank to be accomplished immediately upon the purchase of the note, this, along with the waiver and request for the sale by the borrower takes the bank's liability away selling a note to a non-banking/mortgage broker type buyer.