@Yesenia Morales ...

Also has a Metra, highway, two colleges nearby, and new commercial development (walmart, potbelly, ross, planet fitness, etc.)Moral of the story, look for stuff that attracts good tenants.

Hey @Shaquan Whitaker, you are facing a common moral dilemma with wholesaling.

Quote from @Gabriel Morales: Hello, Just wanted to hop on and see if anyone can lend some help on how to proceed in this situation. 

The moral of the story here, is yes, a Mortgagee can work with and encourage a Borrower to refinance but there are limitations and proper ways to conduct yourself.  

My husband gave the example @Eric Peterson gave if the offer went the other way (up instead of down) and how that would be a difficult predicament to be in.

And what an interesting predicament you've found yourself in: On the one hand you can hold the asset long-term as the land continues to appreciate, all the while collecting a decent return each year from the cash flow generated from the rental revenue.

Would like to talk some people that have been in the same predicament before or now currently and how you got out of the funk. 

4 things may happen.1) He sobers up and continues on as he is.2) He goes to prison and you have to deal with that.3) He has an accident and he/someone gets hurt and he can't live there anymore.4) Nothing and he continues living like he is.You have to decide what your tolerance level is.I would talk to him and put something in writing (after speaking to an attorney) about breaking of a moral or societal clause if you have one.

Very odd that some people thought it was so morally important that we all pay to bail out a car industry that has been failing for years, yet it’s perfectly fine to impose financially devastating decisions on individuals with no time given for them to adjust while no one would even imagine giving them a tax payer subsidy.