@Sarah Moore This issue is going to be resolved by the law of the state where the LLC was originally formed. 

Not a super-helpful answer I know, but the options are pretty vast!

@Trent BrodbeckTrentI will give you the perspective as someone on the other end/side as we are an investor and we get a lot of direct mail - so I will share with what gets our attentionBe original.

It's a lower barrier to entry compared to upstate New York (I'm originally from Queens, New York).

Hi there,  I am a new mortgage loan originator, currently onboard with Nexa mortgage.

Your only recourse is as to the individual borrower, IF they executed a personal guarantee at the time of the loan origination.   

I live on the beach (originally from, LI ) in Fl and do all my biz in Cleveland.

I originally got his number through a friend who referred him to me.

Hi Ahuva,Happy to take a look and answer any questions you may have.

I will likely be seeking advice here if I run into issues.Purchase Price: $155,000 (Down from asking of $175,000 to $160,000 and finally to $155,000 after higher rehab)Rehab Price: $79,900 (Original estimate was $60,000)Appraised value: $310,000 (Original Estimated ARV: $285,000)I am hoping to list it for $319,900 or $314,900 when the rehab is completed in about 7 weeks.This is so far my only journey into Real Estate investing and hope to do much more and learn to scale my portfolio quickly and get to use the BRRRR method when it is available and makes sense.