That HI Is very expensive for the most partI would suggest looking for an RE group there.  

My second multi was my first syndication. 4) I had a mentor and local RE group that taught me the basics, then learned the rest through my attorneys and years in the industry.

If he defaults you probably will not regroup,Good luckSam Shueh

Actually the bank wants to regroup their loss you also need to factor in the total lien to get a feel for what the lender has lost.

I will definitely start looking into local RE groups in my area

Bank wants to regroup loss and often wants to make money out it.

Are you a member of any local RE groups that may have recommendations or local hard money lenders?

My fav RE groups are “SO REIT” which is based out of Burlington.

May be its time to regroup and get plans first. 

So basically they dont know what they are doing and hoping for a quick buck.The DD is the BPO ($125+), title search ($125+, different than a typical search as you need to see the assignments are recorded), file review (to include the original blue inked note and mtg, allonges, assignments, servicing notes, etc.) which is typically done by you or you will need to pay someone about $300 to do it.Most note investing is numbers, so you need to know what youre doing, planning for, what the owners options are before making an offer, then plan to throw it all out the window if need be and regroup.