I was asked to join a couple of real estate groups and this one fell in to my hands.

The mortgage has gotten out of hand due to property tax increases, miscalculated escrow, and an increase in my interest rate from an initial buy down, increasing from $2600/mo to $3200/mo.

I have seen this in Milwaukee too many times, the only way to make it work is VERY hands-on.If you end up renting it in March for IDK net $200 the property will have lost a LOT more in the next 12 months just in condition vs what it looks like now (assuming that it is freshly painted?

The report is as good as the answers you provide to their questions.The risk is that you answer a question incorrectly which generates an incorrect report.I would have a discussion with your CPA to determine what the land basis is(required to start the cost segregation).I would also have your home inspection / appraisal on hand to answer the questions more thoroughly. 

On the other hand, true private lenders are not professional lenders and hedge fund type lenders (which is what hard money lenders are), but instead are regular people in your circle and sphere of influence.

They may also require US credit history, although there are a handful that will not require a US credit report for an increased rate/ reduction in LTV. 

i.e. longer than normal vacancy, bad tenant screening, poor maintenance, skipped rent payments, etc.There could be a handful of reasons why it lost it's ability to cash flow.

So, if you can come up with a profitable investment there, you might have a winner in your hands for anybody looking for an investment there but you have the control issue.Even then though, as a potential investor, I'd have a big problem here.

On the other hand, I've been a lender for over 30 years and I can say for certain that past predicts the future when it comes to paying bills.

On the other hand, if the repair was unwarranted and there was no attempt to contact you, there could potentially be grounds for a case.