Unpaid dues(losses) should be part of your budget.

Feed the beast, more opinions on out of the box financing alternativesMight use some creative financing to pay my losses 43-8, I got smashed on that game!

You also need to do the same with expenses to see what expenses may be.You'll take your income $675/monthMinus expenses such as taxes, principal and interest, repairs, vacancy loss, property management, etc.

Property Tax assessment is currently 450K, of which is 410K land, and 50K improvement.Currently, the cost to live (loss) at my current home in El Cerrito is about $1000/mo.

That was after a complete remodel (all new carpet, paint, etc.) and two boxes of the bug bombs.If you don't spend the time/money up front to tackle the problem it will keep coming back and will cost you a lot more in the long run (multiple extra treatments, tenant loss, vacancy, possible lawsuit, etc.).

Just because you claim everyone as an independent contractor with your accountant, does not mean the State will automatically classify them as independent contractors.2 Quick tips - If they can make a profit or loss on a project and control their own schedule, it hard to argue they are an employee.- Always get the certificate of insurance from the contractors insurance agent, not the contractor. 

He took a significant loss, we took a small one.If you're planning to use hard money to buy a rental, you will need a plan to refinance into a permanent loan before the end of the term.

They will have to show a hardship such as loss of job or income, unexpected medical expenses, etc. to qualify usually.

Cut your losses, get them out!

The most common options would be renting or doing a lease option/purchase -- but with a hard money loan, you'd be hard-pressed to see positive cash flow and you'd be forced to pay off the loan when it comes due.If you absolutely can't find a way to pay off that hard money loan, my suggestion would be not to borrow the money unless you were practically 100% certain you could either sell the place for a profit or you could bring the money to the table when selling for a loss.