Not sure why my post got cut off on #2.

That had me nervous and I learned a good lesson on how much capital of my own to have tied up in a deal.

When people want to getaway, airfare is the easiest thing to cut when they can still drive to a beach. 

Purchasing now is like buying a falling knife you are going to get cut. 

I didn't have to cut or join the countertops.

Cut your losses and move on, if you have to, but move!

She quickly said, "okay, lets cut to the chase here," and agreed to do a loan modification at 4%, drop the balloon and refinance for another 30 years, which dropped my payments roughly $170 per month, while also saving me tens of thousands on my loan over the years.I thought, hmmmm, why not ask again, so I contacted Steve who also held a loan at 4.75% with 18 years still owed, and got him to drop down to the same 4% just refinancing the 28 year term, which dropped the payment $70 per month.

I’m sure that 3rd party collections company got a decent cut of the collected amount, something the management company could have gotten on first attempt.

In my opinion, the rehab was a bit overkill (and took way too long) but now have learned and will make sure to cut costs where ever possible on our next project to protect our bottom line.

Only do this if you don't mind having all your funds tied up in one property for a while.