During that process, I also collect other necessary information from the tenant, such as vehicle registration & description, emergency contact, telecommunication contact details (voice phone, text phone, email), options for paying rent (direct deposit, auto pay, mail), ways to contact us (voice phone, text phone, email).While the unit is vacant, prior to turning over possession of the unit to the tenant, I fill out the Property Condition Report, noting any deficiencies known to me.

Oh and FYI - a deficiency judgement (the difference between what you owe and the auction sale amt) is rare and easily dischargeable in bankruptcy.

There are marketing deficiencies that require more time to make the type of repairs and improvements for me as well as some other investors to get this to close as agreed, it's not the price, it's other factors.

This is true even if the borrower may not be personally liable for the excess amount by reason of the contractual terms of the debt or the operation of state anti-deficiency statutes or similar laws.

Investigators are searching not only for lenders who have sold materially deficient loans to Fannie and Freddie, but also individuals, including those who reneged on their promises to repay their mortgages.

I guess you could get lucky and have the bank not come after you for the deficiency, but they certainly could.

The bank was very eager to foreclose on my house, and seek a deficiency judgement in spite of the fact that I had been paying PMI (Spare me the "PMI isn't for you" speech. 

As far as strategic foreclosures, remember that a foreclosure often comes with a deficiency judgement.

Please consult with your own attorney for legal advice.Because you state you are in CA, I assume your rental is also in CA and that the rental is a dwelling unit for the tenant.If you (1) notified the tenant in writing of the tenant’s option to request an initial inspection and of the tenant’s right to be present at the inspection, and (2) if the tenant requested an initial inspection, and (3) if the inspection occurred, and (4) if at the inspection you gave the tenant a written itemized statement specifying repairs or cleanings that you proposed to be the basis of any deductions from the security the landlord intends to make (and all statutory notices), and (5) if the tenant had the opportunity during the period following the initial inspection to remedy the identified deficiencies, in order to avoid deductions from the security, and (6) if the tenant did not remedy the deficiencies identified in the itemized statement, then, you may withhold from the security deposit sufficient amounts to pay for damages including damage from smoking.