However, they aren’t responsible for losses, debts, or costs—these remain the property owner’s responsibility.

Although we do have deals on the lending side that dont work but we are not forced into a position to take big loss's like we were when the banks were calling our loans.. this will happen in the DSCR world as all these folks are using same type of debt IE debt that can be called based on the terms of the debt or like you have seen with the syndicators that are talked about on BP max leverage bad debt things dont go right And you have cap calls or projects totally lost. 

Generally, the builder will also own the mortgage company to recover some of what they give up in credits via the profit on the loan. 

The main drivers1) Local Inventory2) 10 year treasury(macro)3) Personal Debt levels(macro)4) Real Unemployment(not the unemployment number but real white collar job loss ratio'd to part time jobs). 5) Industry proliferation(can't tell me a tech or finance hub moves like a health hub).To tell me #2 will derive from the same inputs as it did in Sep/Oct, I'm willing to bet it won't.

See the attached breakdown of losses for more details.

Hopefully you sell if for enough to be able to walk away without a loss.

If you qualify, you can use passive losses, like those from depreciation, to offset your active income.

To give you some hope, in the mean time of your RE losses, many of us are doing very well. 

I haven't recovered any collection I sent since 2023 to give you an idea hahahaha.

But, I recovered well enough.Life is meant to be lived on your terms.