That'd be a principle deferral modification, not a reduction.

Someone needs to catch up the payments or one of the heirs can attempt to get a loan modification.

I know they may be really busy, but I want to build an investment portfolio so it's vital for me to work with a RE Agent who is responsive.

Instead of just jumping in and getting started, I feel the need to figure out every single detail and play it out in my mind before moving forward.The Bigger Pockets community seems like a vital asset to getting started in the real estate investing world.

WallStreet has a very vital interest to keep the crowds engagaed with stocks and funds.

I received a modification to my original offer on my first deal stating that the current security deposits would need to be transferred to the buyer’s (my) designated holder that “shall be a licensed Georgia real estate broker.”

No modification is needed to the operating agreement and as long as you are calling for capital pro-rata from the investors their ownership percentages stay the same relative to one another.Having explained all that, if it were me I wouldn't do it. 

By work out costs, do you mean fees paid to the servicer to negotiate modifications or other terms in the scenario of non-payment, default, or other adverse situation?

What were some vital saving habits you used or still use in order to be able to invest ?

Maybe what they meant to convey was that the current owner cannot make modifications to the building without changing over to the new use zoning .