Now I need to figure out how to deal with this loan.Is it better to sell before they start new foreclosure process or just refinance it? 

I'll throw it out there as an option, knowing that no one is really going to take it.Your proposed transaction is low leverage, so very good terms should be available, but FDRs New Deal in the 1930s (which created the kid-friendly home loan ecosystem -- home loans commonly had 10 year balloon payments before that, even if you put 50% down) was only for homes, not for CRE.

Purchase price: $290,000 Cash invested: $45,000 Short Term Rental (Airbnb) What made you interested in investing in this type of deal?

I lived there 7 months while updating, then moved out so it’s now a rental What made you interested in investing in this type of deal?

I have lost a couple of good deals because they used the land as a construction debris dump and now the land can not be built on.

Purchase price: $440,000 Turn-key wrap deal at 0% interest!

Though, I've heard of other investors do deals as sub-to in this niche. 

We collect all the necessary deal information upfront to give you the most accurate quote possible so nothing changes after the loan submission for underwriting to start.

How about a management company to handle all these for liability purposes.If we decide to go with a series LLC structure for our real estate investing, where should our management company (to deal with tenants, manage rent, deals with expenses, etc) will fall into?

However, generally there is about a month or two lag with DSCR Loans between what is being quoted today and what is funding today due to deal cycle, and while there has been a ton of volatility recently, newer quoted rates are dropping and I'd expect our average to be a bit lower by the time July is through and for August - probably in the low sevens range