Most damage I've seen has been due to rain getting in where it shouldn't.

When i look at a credit report, If a tenant has had an eviction, look to see if the judgement was paid off.  

More time to get the process, which can include delays caused by the Borrower, courts or the Mortgagee just taking their sweet time, can serve to increase advances and thus payoff and thus erode junior lien holder equity.Some states allow for a deficiency judgement and others do not.  

Do you treat unsatisfied judgements like most landlords treat evictions (none, ever), or are there conditions, ie, how long ago, amount, etc... where you'd accept an applicant with one... or moreHow about mortgage foreclosures?

That is all personal preference and judgement on your behalf.  

But you want to make sure they're going to pay you first and not the judgement they owe.

I have seen some fascinating Eco friendly houses here in Australia and have considered such a business for the Colorado market, but some of the neatest rain water collection systems would be challenging in a cold climate.

However, our holdings company actually owns the property. i understand there is a ton of paperwork and tax headaches that come along with this, however, we have been through a federal level legal ordeal in the past and we're not going to allow ourselves to be that exposed ever again.God forbid, in the case of a random car accident, where the opposing parry wants to sue beyond  our umbrella limit, our property assets would not be judgement proof.

.- 2nd Lien or Judgement Lien could require more than they are allowed by the 1st.- Appraisal can come in too high- Appraisal can become too old and bank require new.. the list goes on and on.  

Well that rains on my parade...