Last time it was a non-performing loan in Texas where it exceeded UPB because they indicated the legal balance was so high and the initial filing had been done.  

Most multi-family properties do not perform well in CLT due to how hot the market.

Do you have to take a hit and invest even more of your own cash into the policy because it didn't perform like the 10% proforma?

If you were ambitious, you might create a fictitious name for managing the brand of the furnished rentals.

My wife still owns that property btw, and it's performing very well for her.

I guess my real questions are:Can I be penalized for their failure to perform, assuming they don’t send me the renewal prior to that 45 day mark?

I am brand new to this world and my new knowledge is coming at a critical transition point in my life.

My initial plan was to perform land development and subdivide into 1/2 acre tracts and owner finance them starting prices at 60k per lot plus a reasonable interest rate depending on how long of a term would best fit the buyers budget.

Owning a poor performing property is not how you want to get started.   

Each unit rents for $1,500 per month and I was able to acquire the property as a brand new construction for $790,000.