Firstly, becoming a multifamily agent is a fantastic way to learn the business first hand while making some cash in the process.

Worry about one problem at a time.

@Aaron Bard- plenty of  lenders  offer  DCSR loans ...contact a  few  for  quotes ...also - dont  pay  any  lenders  at the beginning of the process 

Evaluate the situation to see if you could have done anything differently to mitigate the loss and implement changes to your processes, but know that this happens and hoepfully just not too close together. 

The government has essentially shoved the burden of homelessness on our shoulders, promising that we will get paid eventually, but they're not considering how costly, emotionally tolling, and time-consuming it will be when we have to sue for back-rent in civil court...all the while knowing that, realistically, we have little chance of getting anything back if the subtenants "can't pay" or are judgment proof. 

I'm currently in the process of deciding which agent to go with.

Hotels and motels do it all the time.

Ananth--if you used an attorney to process the eviction, most attorneys will also pursue the collection of judgements on your behalf, too. 

So, you need to know what the terms and conditions and time frames are for the private/HML lender when preparing to submit an offer.

Despite facing setbacks, including a year-long renovation process, I tackled the repairs, improved the interiors, and addressed all concerns.