I’m not as concerned about the interest because I recover it with the Refinance loan.Or are you opposed to the Cash-out Refinance all together and are speaking to using a HELOC from each property ?

Its usually best case.When you start out, think of 3 different scenarios for each place you analyze:1) What is the BEST case scenario (rents for top dollar, minimal repairs, all is fine)2) What is the WORST case scenario (Big things go wrong, how long will it take to recover it all and be profitable again, etc.)3) What's an AVERAGE case scenario (somewhere in the middle)Run these %'s and you'll quickly get a sense of what's comfortable and what's not.

Our results suggest that while institutional investors conceivably pursue opportunities in distressed real-estate markets, they also provide valuable liquidity which helps recover neighborhood home values. 

So after closing, you would pay to start the rehab and at a few points throughout the rehab, you would request a draw to recover what you've paid in rehab to that point.

Business reputation is so important and difficult to recover after you have a bad reputation.

I hope your husband recovers OK, but to head off any additional issues, here is a question for your lawyer: Are you now exposed to a greater liability risk if this vicious dog living on your property injures someone else?

Stewarts creek is unlikely to ever recover.

Foreclosing in 2nd position gets you control of the property that you wouldn't have moving into first position (until you foreclose) but then you are subject to the 1st still and will ultimately have to pay them off in full.My two cents of opinion would be to foreclose in 2nd, kick the guy out and sell it before the 1st forecloses and try to recover some of your hard earned money.

You could attempt to recover that money from the tenant that didn't leave, but I wouldn't count on it.If it were my property, I would leave some space between the last tenant leaving and new tenant coming in, at least a few days to allow for proper cleaning and repair of anything that needs done.

I have been able to recover several thousand dollars this way.