I had planned to have the paper notarized at the Chiang Mai Consulate but they only do notarizing 2 days a week and the slots filled up quickly.

That's literally what the PG is for - if the entity cant service it's debt, you've guaranteed that you will do so personally.

For bigger transactional income we have our building projects which I have to PG however even though the risk is always there we have been blessed these last 4 years on these that equates to about 120 homes built and mostly all sold.. then the balance in Notes a few long term.. and JV partner on land deals and flip houses those have zero debt.

The main issue you will find is most DSCR loans are fully recourse and require a PG.

The property is in PG county, MD.

If there is a PG, then I recommend looking to start selling some off ASAP as the longer they are in default the accrued and default interest clock keeps ticking. 

When we reached our limit there we actually did a consolidation loan with a commercial DSCR loan where we paid off 5 Fannie Mae loans with a portfolio lender which opened up 5 more Fannie Mae slots for us.  

Even if your refinance into a DSCR to pay off one of the existing loans, there's a 99.9% probability that you will have to PG the new loan.

So, you use less slots for what you have now.

The main point we were required to give up was the borrower’s personal guarantee (PG).