I use it quite frequently.

You will find many wonderful pros here that are quite helpful.

My goal was to set appointments, and I set quite a few (roughly 1 out of 5).

I am not talking about just going to court.I am talking about 3 day notice to quit,filing eviction,court date in the mail,going to court if tenants answers and getting judgement and writ,then paying writ fee and waiting for the marshal to set up throwing the stuff out.These time lines and processes will vary by state.In some areas the marshalls are backed up serving the writs.So if it takes 2 months to get them out and the writ takes a month then it will be 3 months of lost rent.4 if you get them out mid month unless you can land someone living in a hotel or moving to the area mid month.Then you would only lose 3 1/2 months.You also have to factor in time to turn the place and clean it and rent it out again.The fact you accepted a reduced rent will make it hard to get an eviction in court.Accepting a partial rent usually means you are doing a workout with the tenant.So for instance of I can get a majority of the rent I might do a workout.If the tenant wants me to stop eviction for 100 dollars I tell them to pound sand. :)What you do will also depend on your personal cash flow situation.Are you trying to preserve personal credit and do you have a recourse loan on this property??

I learned about subordination of collateral recently and would like to explore that a bit, but I have not wrapped my head aroud it quite yet.Any outside the box ideas, are appreciated!

I do quite a few deals like this every month.

I did quite a bit of price comparisons and got a really good commercial liability rate.

We are in our early 50's and I am quite awful at the stock market, etc.

If you can't provide any proof that work was done, it's quite possible the appraiser and/or the underwriter will refuse to allow you to sell for anything more than a trivial profit.

It's true, there are quite a few investors who use land trusts to do deals.