My broker also received a few subject to offers and when looked them up in public records on other properties he say Notice of Defaults.

If you put yourself in the lenders shoes and think about the risk of the deal and worst case if the borrower defaults what is in it for the lender?

Its the same thing as we invest in defaulted mortgages.

I imagine it is all just on for now especially since all government backed loan defaults are a full stop too. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Jerry ZhangYou cannotYou can give a personal guarantee but then you would have to have other assets.What could happen and we have seen many times is they go into default and the 20% equity cushion goes out the window due to late fees, accrued interest and legal costs.

That loan is in default as well.

Over the past week along we received over $400M in defaulted fix and flip loans from flippers who were getting 90% acquisition and 100% renovation and the properties are 20% underwater. 

I own and manage mostly class B and B+ single family homes and condos, but I have heard that evictions have ticked up in class C, that’s one of the problems with chasing cash flow is getting into class C and dealing with a tenants that are not as well qualified and higher risk of default to begin with.

The key is to generate a solid list that starts with high equity homeowners and you can layer on top other filters like Notice of Default, downsizer, absentee owner, etc.In my experience, the goal isn't to make someone consider an offer on their home, they're either going to be interested in selling or not, you can't control that, but you can control trying to figure out is they have any interest and finding out their motivation.