Now, I am considering using my servicer, FCI, to pursue collection on the note because I am not sure what I can do to get any closer to a deal.Please correct me if I am wrong in assuming I am out of options!  

I would like all the senior people that post at BP to put up their best quotes to keep them going every day especially with disappointing circumstances , as an illness, a death , A deal that goes really wrong , A business partner that perhaps is not fairI'll start----There are no money problems.

And want to see if I can prove to the rest of the naysayers wrong in every way that you can get deals done with no money out of your own pockets or those of close family members!!!

The reason the bank would grant this loan at this time is because of the 90k in equity the property has in addition to having a year or 2 of continous rent.Help me understand if/where i got anything wrong or if there are other options available at any point in this process. 

Things go wrong .

@Matthew SpiegelMan, your sidewalks look pretty rugged -- I could be wrong, but from the pics it looks like the pieces are all sloping different directions.  

I do have one question about this though, which I may be very wrong about but through a subject to investment could I realistically just pay the entire mortgage off, avoid those wonderful interest rates and turn around and sell it make a quick turn around or even better yet renovate then sell?

I think it is a case where there is no right or wrong answer across the board and each deal has to be viewed by its merits, returns, and how much is being lent compared to your own investment both time and money in the project.

@Marian L Claville I know you are anxious to get started, I was the same way when I wanted to find my first rehab house, however I knew if I got into the wrong deal that and didn't focus on the numbers that I could get into a large amount if financial trouble. 

There's potential for a lot of things to go wrong, so I've been reading up on this.I am open to all advice and suggestions.Thank you in advance!