Well, this is a wonderful thread.All I can really contribute with enough experience to be absolutely sure of what I say: if you live on the coasts and your spreadsheet tells you your best passive returns over the long haul are going to be in the Rust Belt in cheap rentals, then your spreadsheet needs to be looked at by someone with a lot more experience in cheap Rust Belt rentals than you have.My own take on the musings here of why everyone wants to quit their job these day and its possible connection to young people and their participation trophies, their possible work-ethic failings, moral turpitude, contemptible world outlook, lack of grit, et hoc genus omne...yeah, I know I don't know squat about all that.

For instance, at one point when I was working as a senior accountant in a property management firm, I was training a guy who was a CPA for 30+ years even though I was hired 2 months before him.I worked only in real estate accounting and financing and became CFO.

@J Scott  in our state amounts that over bid from the minimum credit bid are then dispersed to the next in line on the TSG . if there are no other loans leins etc.. excess proceeds would go to the trustor who lost the property... the Trustee conducts the sale for the benefit of the Bene and they receive funds at auction then disperse.. in WA excess proceeds go to the courts for dispersal is my understanding.. in Oregon the trustee ( which is a law firm of some sort) will disperse...

To thrive in real estate investing, you must maintain a firm grip on your finances.

In particular:(1) Should I hire a law firm or collection agency to facilitate the transaction?

Are they a nationwide firm?

I'm in this for the long haul!

I have to expect we're in for a correction sooner or later given how long it's had a bull run (other than covid and the brief really shallow "recession" we had in 2022).But its returns will almost certainly be better than 6.5% over the long haul.

Are they a nationwide firm?

My firm has a fix to rent product that discounts the interest on the fix portion, and discounts origination on the DSCR portion.