Just out of curiosity, could is profitable to use hard money lending for the long term?

Out of curiosity.

Yes if you signed a personal guaranty Some states have homestead where they cannot go after your house but some states also can garnish your wagesOut of curiosity for others to learn.What was cost of house?

If I decide to sell a rental property, my understanding is that my accrued passive income or loss on the rental becomes active income or loss. 

Equity is great on paper, but it may not mean much when the first position balance has grown exponentially due to accrued late fees and penalties and the property is selling for maybe 70 cents on the dollar at auction. 

I think the difference is "accrued" vs.

@Shawn Holsapple Out of curiosity, is your limit $500k in property value or equity?

Would love to hear what cities you are investing into and why. What caps are you seeing? Any notable changes within the city, etc.

The project no explanation of why and no interest accrued. asking their support lead to no response at all. really bad experience and i will not recommend them. 

@Robert RuschakNot an attorney but I asked mine out of curiosity and “it depends”If for example the price was supposed to be $500k and marketing, advertising and discussions were based on this and the contract accidentally listed $400k, you will most likely not get it for that amount - of course it also depends on the state etc.This is a lot different than you offering $5400k, them accepting the offer then the contract was written at $400k and they come back and are like oops.