You are reduced to what the property preservation companies face.

This makes him work hard and earn the rest of your business.

These are the questions I ask of buyers.I know the chance of a deal happening based on their answer.Statistically a direct buyer has the best chance of transaction a deal for me an earning me a commission.The other ways there are multiple times in the deal that things can fall apart and you are back at square one under contract again.

Your ratio is 12% (6K/50K).When you cancel the 3 unused, your ratio jumps to 30% (6K/20K).That makes it appear that you are much more extended even though you may look at it like you are reducing.

I do see you losing $36K from your monthly losses (assuming things go well) and then selling for a $80K loss.Now, if you could hold on for 20 years, your loan balance will be reduced to the point where you could sell without bring cash to the table.I've gone back and forth on the "right" thing to do here.

There's a nice 8plex in Midvale that the guy is willing to drastically reduce...

You should definitely outsource the negotiating (not only to reduce the time, but because they should know how to work the loss mitigation dept for a better discount).Also, always try for an anti-deficiency letter for the seller.Personally, I would find an expert who does SS & farm the lead to them for a cut.Jay von Mohr

In fact, I would think that if they were flipping their first home and you cleaned out someone’s hard-earned SDIRA thru foreclosure of their flip, you could still be in a world of hurt standing in front of a judge.Jeff

It's like taking financial advice from a planner straight out of college, fresh from his test and earning less than 20% of your income.

It looks like you have looked extensively at the reducing expenses area and might want to look at increasing income.