A few thoughts on the subject from someone who made a living doing this until the laws changed on the West Coast.Most folks in foreclosure go into deep denial.

Loss of use is foryour additional expenses if you can not live there due to a covered claim (ie.

You do not have to live in the home in order to do that!

For scaling your portfolio, consider house hacking another multi-family property to minimize living expenses while building equity.

I would probably work with an attorney in North Carolina (or wherever you live) to do some estate planning since you do have young kids.

Especially if you built something to rent or live in. 

Even if the sponsor lacking knowledge and experience can raise capital through syndication, their life will become a living nightmare of lawsuits, hostile social media posts, public ridicule, accusations, legal threats.  

Hey @Jerry Nogueras - I was in your shoes too, born in NYC, and lived between there and Long Island. 

We live in Kihei now since the Lahaina fire destroyed our home, office and an investment condo.

Where are you living at this point?