Their model seems to be to short term rent (3 months) to insurance companies and then pay 1 or 2 months rent (late) to the owner and eventually just quit paying. 

The Programs includes or covers:- Up to $2.5B in second loan purchases- A maximum programs duration of 18 months- A maximum loan amount of $78,277- A minimum seasoning requirement on the first mortgage of 24 months- Only for Primary ResidencesThe effect of a guaranteed government backed second mortgage for homeowners would be significant and likely put eligible second mortgage terms in line with below market FHA and guaranteed first position mortgage rates. 

If the rents have rebounded or are way above the last major downturn then whatever you are experiencing is most likely a short term blip and you should "buy right" and ride the wave back up. 

It's essential to assess whether current prices align with your budget and long-term goals.

Think long term! 

Personally, I love Sherwood Forest for long term rentals, but there are tons of other great neighborhoods to invest in. 

I have 2 rental properties.The First is in Crestview FL with a long-term military tenant.Cashflows ~ $800 monthly.Mortgage is $180k.

Background information is that my wife and I have a high w2 income and also started an llc to mange a short term rental that we own.

My understanding in Maryland the seller provides the buyer with a copy of the COA papers at least 21 days prior to settlement and you have up to 7 days to review and pull out of the contract if you don't agree to the terms.  

Also  beware that  paying a large loan fee  may affect the lenders  ability to do the loan.I got cashGeoffrey -  awesome ...having  cash makes  negotiating way easier ...fyi -  in the  future - if you need to get a loan in the  name of your LLC as compared to a loan in your own names - the terms on the financing will be higher .