These contracts are made standard, and only attorneys are allowed to modify and create their own adjustments. 

If the lender were to modify that loan, the borrower must remain in the home.

You will have to supply heat to any new spaces, and may have to modify runs.

Confirming if a wall is "load bearing' before you consider removing it or modifying it is wise and will give you a more realistic budget for your rehab. 

They are paid servicing fees for the functions performed, like coordinating a foreclosure sale, so they are often inclined to head to a sale because of fees they will be paid as opposed to assisting in work outs or modifying the note.

Have you tried to modify the loan?

Did you build the student housing or just modified the houses to fit the students’ needs?

Generally, you need this to assess a market cap rate for an office building:-Occupancy rate (current and historical) for the premises and the surrounding trade area -Expenses as a percent of gross scheduled income-Rental rate PSF for each space (ideally they are at or below market) -Age/class of building-Quality of the location -Rollover risk -Lease structure (full service vs. modified gross vs. modified triple net vs. absolute NNN)-Credit of tenant(s)-Supply/demand for office space in the current market A ton of factors need to be properly evaluated to assess value in any given market.

Here's a few deal diaries of rent-by-the-room house hacks in Denver -- this one in Aurora, this one in the Barnum neighborhood.We've also had a few clients do a modified version with a basement apartment or a basement space that has a separated entrance.

The data you will need includes:Original Loan Information (Rate, Loan Amount, Maturity, First Payment Date, etc)Current Loan Account Information (Current Balance, Modified Terms (if present), Last Payment Date, Next Payment Date, Foreclosure Start Date, etc)Subject Property - (the normal stuff, address, value, etc)I can give you some more highlights, not meant to be exhaustive and you really should find someone who knows what they are looking and to help you since you don't know.To check the ownership of the asset you will eventually need to order a title report.