You need to have a plan of actions to take to collect if you even want a chance to see anything from those judgements.

“Men of action are favored by the goodness of good luck” - The Richest Man in Babylon

Based on these assumptions and the IRS notice's text that "The IRS also gives affected taxpayers until May 1, 2025, to perform other time-sensitive actions described in Treas.

However, weigh the costs of selling and the potential long-term appreciation you’d lose in this area.Real estate investing is a learning process, and you’re already ahead by taking action.

Good morning,I do have a question that I wanted to get some insight if there are any glaring cons in my thought process/future action.

Sam,Thats some good news send me an email or reach out let's connect and Network. 

Great if you want to add rentals or non owner occupied properties to your portfolio but not so great if you wanted that winter log home in big bear CA or Mammoth lakes, CA.The good news is you're from TN so you have no earned income tax from the state on wages only interest and dividends in certain cases so thats a pro right?

You’re doing the right thing by jumping in and learning through action.

There’s a good chance that if lender finds out of property transfer via title records, insurance policy beneficiary, bank account submitting mortgage payments, they’ll assume that John  Smith formed a trust to own title and will not flag the  file for any action.  

Will they institute the default rate over a technicality such as missing the completion date by a few months  or will they ignore the default rate because they see the reason for the delay wasn't entirely borrower's fault and borrower  has a plan of action to get the project on track?