CloseIf buyer (me) fails to pay mortgage on either note, attorney is instructed to use $60K to pay off 1st position and pay remainder to second position.

Success will never be easy or else everyone would be able to do it but with your mindset, I believe you can accomplish anything you set your mind to because you know as long as you keep going you can't fail.

I live in the great real estate market of Connecticut and thus, became an accidental landlord when my primary residence (2Bd/1Ba) failed to sell.

As others here have said, it fails the 1% rule and that raises a red flag for me.  

The first filed for a relief of stay because the borrower failed to pay them during the BK period. 

I also read your profile and tried to read more on your website (http://www.prymehome.com) but it fails to load.

Technically that is true, but a good agent sets alerts for short sales and REOs that come back on the market (when they are most ripe) after a failed deal.3.

I would have ripped out all (I took out the small cabinet and later put it back) the base cabinets but I was trying to get the house ready in time for the students (failed that) and figured dealing with the plumbing would delay me.

Assuming that it was engineered and installed correctly, the only way that I can see helical piles to fail would be due to liquefaction, sinkholes, and scouring.

if you fail, and a lot of people do because they underestimate it, it will be quick and financially painful.It all depends on your business plan, and how bad the area is.