U see some of that though with equity roll up folks from the coasts moving to these areas.

u

naive seller and beginner under capitalized investor who learned this niche at a RE event or on line u tubes what could go wrong :).Not to mention the premeditated crooks out there that use this method to rip rents and walk away leaving the seller totally fubared as you mentioned.I think many do not realize that there are only a hand full of states that do not allow deficiency judgments on purchase money deeds of trust or mortgages.

Just letting you know that I was reading your answer very meticulously and I appreciate your time and experience u put into it!

U should be in a position to payoff the first though so you dont throw away the money you spent on the second. 

U get sued or criminal charges the fact that you had an attorney is moot. 

Its even worse when U buy at court house steps and show up as new owner and one spouse has hidden the fact they lost their home .. had that happen a few times..

U Haul trucks. 

Nate u have liability so a corp or a llc is strongly recommended.

It is amazing what landlords will think of next, and if they keep it up, they will need a u-haul truck to haul the application around.