But yes, also to repay the $11m in sponsor funds - unlikely a preferred equity partner would be comfortable with that as well when providing rescue capital. 

(we created a construction rescue program as a result of this) We  provide excellent incentives for our investors,including locking in long term debt at 3.75 % through our in-house financing program. 2 years free property management as well.

That wasn't the end of the story or my PM saga, but I was able to sleep knowing that I had rescued the project from certain bankruptcy.Now, 5 years later, the property is amazing and I'm still satisfied with my proactive approach.

This is not a rescue type situation nor a new development type situation but rather an existing high occupancy project, but why can't a sponsor raise enough common equity?

In 2020, during COVID-19, we rescued a pit bull, and we just had a baby! 

Rent Relief (I think it came from the Covid Rescue Plan) just paid 7 months worth of rent (past and future rent) as well as her water and gas bills.

I doubt that trying to rescue a "A" property by filling it with a section 8 tenant will work.

“Genius” me agreed to rent a house for them in exchange for fostering a few of my dogs (I run a dog rescue group.)

Quote from @Gladimir Lobo: "🚨 Real estate rescue alert!

I have rescued a bunch of those investors in my day.I get the sub too attraction I just think those sellers with stellar credit that want to keep their stellar credit take a very big risk giving title away to an asset that they are on the hook credit wise for ... and especially in default judgement states..