Negotiate from a Position of StrengthThe old “Poor Mouthing the Offer” which some buyer agents still recommend is an outdated & flawed strategy, especiallyin a seller’s market.

I suggest starting by either calling the district court system for the jurisdiction in which your rental is located or visit their website to find out more about the lawsuit process. 

Without the documents, I cannot tell if there was a recording error, if the second lien stayed in second position, or what exactly happened?

Why would I pay someone (CPA or online tool) to form an LLC when I can do it by myself using the IRS website?

Thomas Marshall I am sure it is, the challenge will be what position are you in 1st or 2nd and if your 1st then getting s lender to be in 2nd with 100% equity will not happen and then if your in 2nd your money is at high risk.If your looking to be passive either be a hard money lender or invest in mortgage notes.

Does anyone see any positives with this deal?

Numbers above don’t include cash flow negative but income positive Minnesota lake front future retirement home with $440/mo hoa and 15 year loan.

Hi, I am brand new to this website.

One thing I have seen too for looking for potential lenders was looking at the list of approved lenders in the Maryland Mortgage Program on maryland.gov's website. 

Also if you depreciated the property you sold there will be taxes on the amount you depreciated.That being said I am a huge fan of paying for homes in cash and having a positive cash flow right away, but not if you give away decades of profit in taxes.If it were me, I would look for a multifamily home/apartment for the amount of your last loan + profit that gives you a good cash flow in a broad geographical location.