Four years is a long time but its nice to see that you were successful in your first attempt.  

I can assure you, I have had some tenants attempt to take advantage of the situation but we dealt with them before it went too far.  

(Answer: Unsecured.)Lastly, if this loan were to go bad, what recourse is available to you and/or what legal remedies could you pursue to attempt to recover your money?

Any advice would be appreciated as this would be my first attempt

Attempting this with our current lender/servicer. 

He is not making any attempts to sell the equipment (or telling me he has no buyers and he will remove it when he find buyers).

Other than absentee owners, are there any indicators I should look for when determining if I should attempt to contact the owner?

We have text and photo records of all attempts at conversation, the multiple breaks I had given them on payment, and the damages they left behind. 

Hi BP, I have identified an up & coming submarket near my hometown with a clear increase in rental demand along with quite a few 2-4 unit multifamily properties with plenty of value add potential. The issue I am r...

Some auctions seem like a good deal, although, unlike previous years, banks are holding out and attempting to get market value.It's the buyer's responsibility to remove the occupants as a new owner.