Nevertheless, if the RAD investors  actually had loans  collateralized against property they would be in a much better position.

You must have known the property was in arrears, so it becomes your duty to be in contact with the bank through the process.

Whether it be cleaning their properties or doing manual labor.

He can fight the seller to still buy the property but you are out of the deal and want your money whether he signs cancellation or takes it from his pocket.Key thing is focus on your agreement / contract and your rights.

HELOCs typically do not go above 75-80% of value and since the property was purchased recently they would not see that equity unless you did some major rehab to the property.

You can list the property as a "net listing" and take the difference over what the seller is willing to sell for that way. 

It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.

@Lauren Ruppert Yes, an LLC can sell a property to your child’s LLC, ideally at fair market value (FMV) to avoid gift tax complications.

Michael had built his portfolio from the ground up, starting with a single rental property.

I'd keep an eye on ancillary properties that become available.