It would be a blatant bait & switch tactic, but I would imagine that if one were to approach these folks with a solution to help them stay in their homes, they would at least talk to you -- for a while, until they figured out that whatever solution you propose involves selling the house.Has anybody had any success reworking these debts and keeping the people in the homes, even if they are renting for some period of time?  

If you haven't already done so, I'd work and re-work the numbers in a spreadsheet to ensure that you've got the return calculated as accurately as possible.

Then we contacted the lenders to get the amortization reworked to lower the payments.Now, we can easily adjust and adapt to any rental conditions without suffering from being over leveraged.For now, we are making the expected payments in anticipation of having to adjust to a more competitive rental market over the next couple of years.

I have reworked my numbers and found how to produce greater cash flow at the same property, vice appreciation (thank you!).

@Kerry M.I been there – 100k in vanish money with nothing to show for itLike Jon and Don said try to stick with it as long as possibleBe ready regardless for a lot of immediate family arguments / decisionsJust keeping it realI struck with my issue and now with advice from others re-working my financial lossesIt a heck of learning experience ,, but the worse kind if you ask meTry to stay positive

Anything can usually be removed and reworked....just a matter of how much you want to spend.  

We will be opening up the great room (top photo) as well as redoing the fireplace, flooring (basically everything), and reworking the floor plan to give it a more open concept plan.

.- I re-worked my numbers after having seen the properties in person- I just finished making offers on 4 of them... and I'll be lucky if any of them are accepted.

The assets that you're talking about buying and selling and improving and reworking are HOMES for non real-estate people.

Contractor shall not be compensated for delays caused by Contractor’s inefficiency, rework made necessary by Contractor’s error, failure to perform the Work as scheduled, or any other corrective or productivity measures made necessary by errors, omissions, or failures to properly perform the Work.