Attend real estate meetups and networking events in your area to connect with potential lenders and other investors.

Give your state's 'cure' term ("In New Jersey, a tenant has three business days to pay rent and court costs after a judgment of possession is issued to avoid eviction.

Make sure your rehab is "renter" cost rehab. etc. 

@Brooke Carlton I found a potential solution to this problem!

Buyers and sellers should consider some amount of closing money be held in escrow after closing to cover potential problems with the non-responding tenants.Does anybody have any experiences to share with successful use of a Tenant Estoppel Letter, or times they wish they'd know about this tool before entering a Purchase and Sale Agreement?

i'm just making numbers up, but if your rent on a property is $1000 and your all-in cost is $1500, and you're negative $500 a month forever, that doesn't make sense, even if you can afford to cover the $500 with cash from another income source.i also agree with not using up all your cash, but that just means you might need to wait and save up more cash. 

They do an inspection, look for potential costs with repairs and produce a final report.

If one tenant has been in there for that long, there will also be some serious capex and turnover costs.

Hard money typically refers to a company that has it's own underwriting guidelines, rates (9% - 15%), costs, draw process ect.

Combine those factors and start thinking of nightmare scenarios, because they are very real and you must be proactive in policing against there potential to occur.