I would love to hold an informal open house/ educational session at the property.

Inventory is low enough and there are enough house hungry people here that it will sale, but it obviously won't be full ARV.1st Principal: $270K1st Reinstatement: $75K2nd total balance: $97KOther taxes/liens total: $25KARV is $550K - again we won't update it to that level, but $510K-$530K is likely.We won't have significant money costs for the small amount put in (reinstatement + minor repairs/cleanup), and my partner who does hard money loans is a licensed broker so we'll be able to work out the listing commission.So it's not upside down, but margin is too small for most professional rehabbers. 

Trust me, there were plenty of loan workouts and government interference then too.

Student housing however, with only online classes in session this past fall, parents quit purchasing for their kids, & and investors laid off student housing as well.

Let the contractor go as soon as you realize they can't get the job done, are not trustworthy, or it's just not going to workout.

Then we ask them what would be fair, and work out something out.

I also do month-to-month for credit issues so if it doesn't work out in normal times it's not a problem.

You just need to work out a deal based on your numbers and what the property can afford.  

some folks panic and took forbearance when they did not really need it.. probably more than we realize.then once this is up those that still have issues will still be able to work out future plans.. 

I have heard a similar story around the Philly PA market and the investor was able to speak with the resident and workout a solution to get them out.