Not surprising, it hasn't presented itself yet, because real estate distress takes awhile to formulate after the "event,"  which is the coronavirus economy shutdown. 

So as I continue to look over local listings and try to formulate my long term investment strategy and just gather the necessary knowledge to achieve my goal of just buying a single property by the end of the year I have started to wonder.Has anyone ever rented their own living space from someone but owned a property of their own that was rented out?

Do not let the costs of collections necessarily deter you, as they are unlikely to be as high as you probably think they are.Sit down for a consultation with a local attorney soon.Disclaimer: None of information contained in this post should be used to formulate a course of action on any particular legal issue.

We have been listening to BP podcasts and reading as many RE books that we can get our hands on in preparation as well as formulating our business plan.

It all seems somewhat fluid at this time regarding owners trying to formulate a plan to deal with the problem. 

Every real estate investor needs to have a team of experts as a moat around their castle, as well as, entity formulation, etc. 

Fortunately, I was able to formulate an agreement that the existing neighbor agreed to - sweating bullets because the sale depended on his cooperation- and that the bank/buyer agreed to.  

This is a key question to answer, as you can not formulate a game plan without answering this question first. 

After reading your response I am going to spend some more time formulating, and dialing in my plan of attack.

I’ve found the information on this site extremely useful as I need help formulating a strategy.