You aren't required to offer a loan mod prior to foreclosure.

It potentially offers legal protection.

We’re considering reaching out to local hospitals to offer it as housing for travel nurses and doctors, but we’d love to hear any advice or suggestions on the best approach this?

Your offer should be based on your DD and modeling the deal following your investment thesis.

They are asking $375K but not getting it - so not quite $20k underwater from asking but they're offers so far are around $350k and lower.

Hi @Stacie Telles,Finding lenders that offer cash-out refinancing with minimal or no seasoning periods can be challenging, as many conventional lenders require a six-month to one-year seasoning period.

If you ever are interested in a more affordable market I'd love to connect on what the Midwest has to offer!

Before diving in to offer advice, I'd like to clarify a few things with you, if I may....You mention that you are going to live in the property while you renovate. 

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

@Heather Luu first, make it more efficient by only worrying about deadbolts.There is actually very LITTLE additional protection a lock handset offers in addition to a deadbolt.On the properties we manage, we remove all keyed doorknobs and just use passage locks.