What are the ramifications should you own the note, aren't able to modify it/get it performing again, can't get the deed in lieu, only left with starting the foreclosure process, and during the process the occupant declares bankruptcy?

What are the ramifications should you own the note, aren't able to modify it/get it performing again, can't get the deed in lieu, only left with starting the foreclosure process, and during the process the occupant declares bankruptcy?

For future mailings - should the message or format be primarily the same, or should it be modified each time?

Over time, I added W/D to all the units(modified the closets) and made cosmetic changes as tenants moved out.  

Additionally, you can get a purchase and sale agreement from a real estate agent in your state and modify it.Just to be clear though, you should add in some clauses to your contract that give you an out if you can't find a cash buyer. 

You could also find a free sample online and modify it.

You will need to update policies and procedures, in addition to changing the way you track and modify disclosures.

Bigger Pockets has been a tremendous asset to me and I am sure you will find it helpful as well.This will help you find other members in your area: http://www.biggerpockets.com/meetYou should have set up keyword alerts when you signed up but here is the link if you want to modify them: http://www.biggerpockets.com/alertsA must read if you are new to the game: http://www.biggerpockets.com/real-estate-investingThe podcast.

No, but you know where to get the needed information.Allow me to modify what you said about "consumers" they are under the impression that learning real estate takes a long time.

Happy to share with you a good base lease if you like that you'll need to modify for your own use.