Hi Terry,
I would personally not worry about the $1900. I am shore you can make more money spending your time investing. Than wasting it chasing a defaulter. After all you have still profitted from the experience.

hi guys.
I think you can use the equity in the first houses you wrapped eg: if you depositted 5% for your first 4 wraps and they were all approximately the same price then you have 20% equity that you can use to buy your next property.