Since the borrower was in bankruptcy, the amount of P&I payment they were ordered to make (and were making), was quite a bit higher than defined by the note. 

On the off chance that the guy, with all the free YouTube videos, trying to 3 step sale you and every other wanna be into maxing your credit cards for a $30,000 mentorship is actually something more than a professional “pitch man”, that he was actually successful doing what he’s selling (ignore his personal bankruptcy; that was back when he was “like you are now”, I.e. before he perfected his system), and that he’s not totally blinded by greed, he just wants to “give back” to the real estate community he so loves and cherishes.

He is planning to file bankruptcy because of the buildup of debts.

I believe that there are a few macro trends benefiting Detroit (we are mostly talking about downtown Detroit and some adjacent neighborhoods): 1) the city climbed out of bankruptcy in 2013 and is having a historical rebirth with the new mayor Mike Duggan in office (likely running for another term).

So if lease had say 300k left on it rather than forcing the tenant into likely bankruptcy where you might get nothing you offer say a termination fee of 50k.The goal is to try and cover down rent time, attorney fees, any leasing commissions, and tenant improvements so at break even as much as possible getting new tenant in.

Most of it seems pretty positive but I was warned that a property that I purchased could be seized by a court if the seller files bankruptcy.  

I saw one go before a bankruptcy trustee once involved he stepped all over the "subject to" and let the bank foreclose under the relief of stay. 

Last year we declared joint bankruptcy.

Check your local public records for pre-foreclosures, bankruptcies, divorces, probates, code enforcement liens, etc.  

Unrelated to construction, I am also actively a private IT consultant to PriceWaterhouseCoopers, specializing in big data, cloud technologies, legal compliance, and audit controls (Assurance division), and am an experienced paralegal in the areas of corporate and bankruptcy law.