Many people are actually cash out refinancing and LOOSING the great interest rates they have on their 1st mortgage.

Think on that, a person has an 80%+ chance of there "pick" not just loosing, but possibly going to $0..... 

I agree that we move on and focus on recovering the lost money and not loose faith in ourselves or legitimate partners. 

I'm 100% overseas now and no longer feel bound to invest in the city I live in.

The city you live in at any point could just create restrictions on STRs and you will loose your ***.  

I'll loose a lot less money and sleep keeping the property empty for another month than renting to tenants that destroy the property.And your statement regarding must rent to the 1st qualified applicant. 

I have received recent quotes for LESTER building around 125k for a 40x80 so I'm doubling that , concrete not included.I feel like i can't loose with this strategy even charging $2 a square triple net for these units ?

So now I'm faced with the potential of loosing EVERYTHING job, house, car, wife...Finally I stopped focusing on what was wrong and focused on the solutions. 

Casino does not reimburse when a person looses.

As to the $120k estimate, I am probably a little hasty and loose with that too.