This one was a first position lien, with a personal guarantee from the developer, and when Patch of Land started the foreclosing procedure 3 years ago, they said that the equity was above the loan amount (oops!).

What is the procedure?

You should contact ACAR on Monday morning and they will give you their procedure and timelines which appear to be different from us in California.I did everything with my local board in person and received everything I needed immediately.Sorry I couldn't be of more help.

And of course we applied all of the project management processes and procedures we learned from work, but in the end, i almost lost the property and almost went bankrupt.

This is due to a special rule under Revenue Procedure 2002-69 that states that a LLC owned by a husband and wife in a community property state is also considered to be a disregarded entity and for tax purposes, the property is treated as if it is owned directly by you and your spouse.

As the others said, I would make sure you have policies and procedures laid out for early lease terminations (i.e. termination fee, sublease required, etc.).

Do you already know the eviction procedure in your area?

Contact Clerk of Court and ask about the procedure.

Check out your local landlord-tenant laws to make sure you are following proper, legal procedures. 

Many of the things we learned in the service have helped us, such as developing systems and procedures.