I experience this pretty regularly with airport owned hangars, so the rules may be different on a ground lease, but airports tend to be touchy about what's in a hangar and have very clear cut rules about using hangars for airplanes. 

If this could be organized and educated into fact it would indeed be a viable way to cut the sharks out, and by golly, the working Joe on the street might actually be protected from financial devastation rather than be totally helpless as is the case now with the managed portfolio junk being pushed.

Perhaps this was short sided, but the real benefit to us was that it cut our living costs by almost 50%. 

I'd highly recommend local meetups and talking to real estate agents.There are companies that offer help with the execution of rentals and BRRRRs, but this typically comes with a large chunk of upfront fees or cut in equity.

Most lenders require you to have 6 month seasoning to do a cash-out, but I do know of an option that cuts the seasoning period down to 3 months.

I'm thinking between your fanatical approach to savings and cutting expenses for two years and their gift money for two years, you should have a big chunk of money where you can go after this concept on your own.

It is important when to know how quickly to cut ties and when to give them a second chance, but this does take experience. 

Yes, we did.Here is why: market was a falling knife, loss next month will be worse, subject property not properly insured, and pants on fire "person supposed to pay borrower" is going to cut corners and try other tricks.

Note:  from a "buy" standpoint, unless you are all cash/heavy down payment, today's interest rates for investors in the 6%+ range don't cut it. 

Given the uncertain neighborhood prospects, I'm torn between enduring potential long-term losses or cutting them now.