They did poor due diligence and a poor business model.  

I looked into the maintenance option years back to discover a trend of:  apx. 8% monthly fee which only included rent collection (everything else from maintenance to turnovers etc, extra, and poor reputation on repairs.)

You LP lost everything.Other ways, poor property management team isn't managing property well, and syndicator bought in tertiary market with only one or two managers available and no way to self manage.  

With all the measures they have, it's never been an issue to my knowledge and the neighbors would let me know in no uncertain terms, as they had a poorly managed STR in the neighborhood previously. 

The wealthy live where they want, the middle class live where they can afford, the poor live in whatever's left over.

This is why people are getting pissed with cold callers and your seeing very poor response/appointment/sales rates with PS data.This is what Joel Bongco has stated alsoIts absolutely true and I can go further and quantify exactly how bad the data is using my own study comparing PS to county records.I compared PS preforeclosure leads to county records across 167 counties in Texas (67), Florida (50) and California (45) by running searches for both PS ad the County recorders datbase for the period 08/01/2024 - -09/30/2024 and found thatFor TX which i measure preforeclosure leads as all lis pendens, appoinment of substititute trustee (Not a NoD but used for a similar indication) and notice of trustee filings.

Another common problem is poor due diligence—jumping into deals without verifying the borrower or collateral often leads to future regrets.I’ve also seen over-leveraged borrowers cause trouble, prioritizing other creditors over private lenders.

I would bet the solution lies in your answers to those last three questions.

It took more time and back and forth communication than was needed, and compared poorly with other refinancings we have gone through.

We placed our biggest bet on a single property, class B shares.