If you have a broker they will have a profile on all your current insurance so they run these numbers automatically for you. 

When a applicant does not meet your requirements, eg minimum credit score, you automatically reject.

Any eviction history is an automatic denial. 

@Jason DiClemente I’m not sure why I automatically assumed I had to take the whole 70%.... 

If an item which was requested during the due diligence period is missing from the due diligence materials and isn't provided until the due diligence period is finished, does that automatically extend the due diligence period through the date of receipt of said item? 

I have never done one but I wouldn't shy away automatically.

If you want to get fancy you can hook them up to your internet and they automatically generate monthly usage reports.

Then an Automatic Stay goes into effect that stops the foreclosure without a court OK.Depending on which Chapter of Bakruptcy is filed, the mortgage holder has a few options some as set out above.A sale of the property would have to be reviewed by the court as to price and if it is in the best interest of the "estate" (debtor's bankruptcy)What did you mean by "It sounds like the possibility of getting the property goes down the tubes when either of these bankruptcies are filed. "?

Clause 17 TERMINATION: After expiration of the leasing period, this agreement is automatically renewed from month-to-month, but may be terminated by either party.

The property is located in NJ and the lease is 50% of market rate, zero security deposit with specific disclosures that property is subject to foreclosure (but does not explicitly say lease is automatically terminated at that point).