My husband and I have been listening to BP podcast's for a year or two but are finally get involved on the website (forums, blogs, etc.).

While there a lot of ways to get into real estate investing from a transaction standpoint, and I'm sure you'll get a lot of advise in these forums, there are also ways to get involved with real estate that don't necessarily involve buying something. 

It is very expensive proposition with the turn over and fees involved.

What Alaskan industry are you involved in during summer?

Its rented out, but Im personally not involved. 

They are looking at the property and evaluating the risk involved with selling the property if you stopped making payments.

As stated above, you don't really know the time and materials involved (from just tamping down the soil around it, which means maybe it is high all the way to pulling the post, re-digging the hole, and resetting it in sharp gravel or concrete, in which case you got an ok deal based on my labor and materials rates). 

You may have to have a lawyer involved that would do this and offer a Trust service that automatically conveys the property when the buyer gets a mortgage on it and pays off your loan.

I believe taking action is a huge part to success so being involved here in the forums might just be a great idea. :)Have you read this post yet?

Get an attorney involved now so everything is done right.