I think it's safe to assume that all investors' capital is gone here.

We're making progress.Thank you everyone, be safe out there on the World Wide Web.

There are often long stretches of flat SFR markets in US. like '79-'83, '89-'94, or even down markets like '06-'13 where single family home values dropped 36% on average across country, so 1% rule may help keep some investors out of trouble by at least having some cash flow to safely carry the mortgage during those times.      

Likely would want to close on 11/28 at the latest to play it safe as the notice takes affect the next day, not the day it was served. 

If you work a day job in addition to your plans to pursue real estate in this way, then focusing in 1 city/MSA will drastically reduce your time spent focused outside your job, allowing you to keep your income high, your job safe, and your problems simpler.

If you think keeping money in your backyard keeps you financially safe, just remember how that did not workout in Greece.

As for properly collateralized performing notes in Vegas I think those are quite safe.

https://louisvilleky.gov/government/housing/lead-safe-louisv...

So in this situation, where you have a relation with the borrower/home owner it is likely safe to assume if you get too greedy and ask for a heavy discount there will be no deal.

@Kishan Korsapati There should be a better articulated investment thesis than buying a home that is deemed to be in a safe area and cash flows.