There is much more to it than assessing a value of your collateral.You should also understand how "life occurrences" play on your loan, incapacitation, incarceration, marriage, divorce, bankruptcy and death.

I have seen the incarcerated person return and ask where their belongings were and that were paid up and you had no right to change the locks etc...I always ask "all parties" to sign off that they have vacated just for this exact reason.

(She had married a felon she met on-line while he was incarcerated & that didn't work).We gained possession right before Xmas.

Consider the incarceration and the Father's statements and actions an abandonment of the unit by the tenant.

I figured this guy had 2 kids, a wife, a new job as a tile installer and just out of jail...The tenant started slipping payments within months, would not follow simple complex rules (as if he didn’t even get basic stuff...because he had been incarcerated for years???)

I can see a couple of our tenants stumbling in at 2:30 and "forgot" their keys at the bar... better than a DUI (at least they can pay rent if they aren't incarcerated), but Im sure as hell not answering the phone in the wee hours!

Do you know what his offense was that caused him to be incarcerated? 

I don't recall the exact language right now and I don't know what would have happened if I ever got into the situation of having to enforce it in court, but the lease option contract that my lawyer created for me has some verbage about situations that would prevent the lessor from being available at the time of closing on the purchase - such as incarceration or death.

Hi I’m 19 years old and have always been fascinated by investing and real estate due to the fact I want to live a nice life and live good for my children, I don’t have a father (incarcerated since birth) and My mother went through a lot as a child and she ended up not being the best parent.

My husband is currently incarcerated and is getting released in 9 days.