If you are risk adverse real estate, (especially out of state) is not for you.

If you have the stomach for the potential pitfalls, the money to hold on, the patience to wait it out, I'd say go for it but if you are adverse to risk and don't have a good stock of Tums on hand, might want to stick to something less exciting.On a side note, if BofA foreclosed, they did wipe out any liens junior to them.

That has the possibility of adversely affecting your tax planning.

I am a very risk adverse person and would only go into a property knowing that in the worse case scenario the property could still cover the debt.

A lot of it depends on how much you have to lose though - if you have stable high income, a young family, an already significant net worth, etc. than you will probably be more risk adverse.

In addition, there is no anticipated material adverse impact to the HOA if the funds are not recovered.Otherwise most non-warrantable condo loans won't go too high on LTV because of the added risk.

Now is the time to make some moves if you haven’t been adversely affected by the Covid slowdown  Mov

If you are risk adverse real estate, (especially out of state) is not for you.

What works for Jerry may not work for someone with only 4 units and risk adverse.

However I am more risk adverse than most REI investors so that’s not necessarily surprising.I think it depends on your personal situation.