My wife has an idea to start a sober living facility for people recovering from opiate  addiction.  

Payments sent in by a borrower held in suspense or unapplied would have to be applied to the account prior to any approval of amounts due from court ordering the sale.Again, the steps toward remedy here are:  (1) Contact loss mitigation person and inquire about missing or inadequate items sent; (2) Send in those items (3) Await relief responseOnce all items are sent in properly a mortgagee must respond with a plan or denial of relief within 30 days.  

They were not  experienced, suffered major losses and no longer invest in real estate.  

I'm a young guy with plenty of time left to recover from a mistake..but I don't want to make a big one. 

Huge loss, That tree could easily be worth over 10 KCall  local college in your town they are usually the best and can give recommendations for good arborist in your area or hit googleCall property appraiser. besides the tree appraiser. it's a real loss to the value of the property not just the cost of the tree..Get any photo's you can of the tree, summer and winter.Take a measurement of what's left of trunk of tree and get any photo's of it you can before it's all gone. the measurement is taken 4 feet above the base of the tree,, save that section of tree if you can.

You should also make allowances for economic vacancy (10% if you do not know the actual physical vacancy, loss to lease, turnover, eviction and legal); maintenance (10%) and Property Management (7 - 9%, even if you plan to manage on your own).When I plug-in typical local values for the above, given the revenue you presented, I get a CoC in the range to 6.25 - 6.5% ... at your purchase price.  

@Ben Morris I'm not sure why you are justifying a loss of $800 per month, that is unacceptable, you're looking for appreciation but at what cost?

I finally was able to sell it to a cash buyer at a 10k loss.

I researched the law and found out that he is personally liable for the rent loss.  

Housing lags behind job-loss...it always has.