suggestions on how to potentially mitigate loss:-See if the lender is willing to extend the hard money loan to give you more time to find tenants and potentially get the property reappraised later when the rental market may be stronger.

If the ground rent is way below market and a booming area you almost want them to leave and go elsewhere if you can backfill for another stronger tenant that resale has lower cap values for with higher pricing.You need to determine the age of the building and cost to retrofit it or adapt it to something else.

This puts you in a much stronger position and lowers your effective costs later as there is no need to pay for the foreclosure process.Georgia is a tax deed state but mostly uses a non-judicial foreclosure process so you are buying something much closer to a lien in most of those auctions. 

Your offer will be much stronger if you do 5% down with PMI and it's not even that much like, $150 or 160/mo.Interest rate is a bit high but it's ok being conservative.

yea when buying into a security its difficult, but if you can partner and get equity position you can hold a bit stronger interest, and help steer the boat.

I would already know what is going on with the house and could eliminate that contingency from my offer to make it appear "stronger" to the seller.Thoughts?  

Finally, and this is not unique to syndications, but bigger deals require a stronger personal balance sheet and liquidity to secure loans.  

Used to be, seems like a lifetime ago, that a contract for deed put the lender/seller in a MUCH stronger position than did a seller financed mortgage or deed of trust.  

You waived all your contingencies to make a stronger offer but if you can just get out of your obligation of your EMD than what good is it really. 

It's hard to live by this but I guess it goes right along with "If it doesn't kill you, it makes you stronger."