BLUF: asking for talking points to take back to the Sellers and my buying agent to ‘renegotiate the deal’ to ultimately still purchase the property, but for less - what’s a reasonable ‘ask’?Background: 4 residential...

Yes, if markets go back to record highs in short order and credit markets don't see an increase in defaults or restructuring then this shouldn't be a bigger problem than it already is (some pension funds were in crisis mode before this).

About 18 months ago after not paying for four months, I restructured our agreement and had him sign a quit claim deed that I would file if he were ever more than 30 days late.Fast forward to this month, March 2020.  

@Jay Hinrichs We also reached out to our private lender to see if he will restructure the original financing, so thank you for that tip -- carrying 13.5% at the moment, not ideal but with no points and no track record and a minimal rehab, we thought we would be golden.

 In the past we have endured many hardships that we have been put through but I would say currently is the ultimate test of resilience in the face of adversity and some of us have made the necessary monetary nest eggs...

Typically as it relates to rental properties people refinance for one of two reasons.Loan Restructure. 

Yes they are in trouble but their loan holders are not going to want to reposes a hotel, strip center or anythign like that right now, so I am sure it will get restructured.

I want to scale my business as I have a small portfolio, I want to restructure my business to grow at a less conservative rate than I am now.I do agree an accountability partner would be beneficial so let me get on that!! 

You only get what you are owed.If it goes to bankruptcy it STOPS foreclosure process as they try and restructure the debt and go back to regular payments potentially (depends on type they file)To be blunt if you never have bought a note before buying a non performing commercial note would be like handing the keys to a tractor trailer to your 16 year old kid and say go drive this as their first car they ever drove.

So are you buying the notes with the intention of foreclosing and/or deed in lieu, or are you also considering restructuring the loans first?