While I understand that other liens are typically foreclosed out, could I be missing something? 

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Through depreciation, particularly accelerated depreciation and bonus depreciation, you can typically offset all rental income such that there is no taxable income from your rental . 

There are strategies that you can utilize here that can make it easier as well. 

I start with cleaning and repairs, then I apply it towards utilities, legal fees, late fees, and rent, usually in that order.I also have a holdover clause that says the tenant is charged 4x of the monthly rent, prorated daily if they hold onto the property after lease termination.

They have the typical white shaker style and then more traditional wood-look styles.

Investors typically want detailed financials and an agent can help you put together all these docs like rental history, expense reports, potential ROI projections, etc.

They typically charge to find a new tenant, renew leases, and upcharge on maintenance.

Using a Heloc utilizes the equity that is sitting dormant, it provides tax relief (once again check with your tax professional) as it is interest income, you can typically get a reasonable rate andlastly there is no out of pocket money.

I know there is all this talk about the Olympics coming but on a practical basis that has no effect on you unless you do STR, which you typically can't in a rent controlled property.3.