I believe you should wait tony, my son made the same mistake and his credit became messed up in 2 years due to the the fact that he was so caught on school and didn't have much time to be a good landowner ended up not having any one rent the place and then the property went bankrupt

In Evert market there is always people moving, devorceing, dieing, going bankrupt, etc.

If you're looking for info on how to best declare bankruptcy it might be worth going :) http://www.forbes.com/sites/helaineolen/2012/10/10/rich-dad-poor-dad-bankrupt-dad/

One experience can bankrupt you if you aren't properly covered.

My feeling is it is the end of the road for this company and I will need to start looking for a new tenant as they will be bankrupt soon.

What's worse is that this isn't a bankruptable debt either.  

And for example if that area is North Carolina, they may go bankrupt when a hurricane hits NC & does billions of dollars in flooding damage across the state.That said, I’d recommend everyone go to AMBest.com and check the rating of your insurance company before signing up for insurance.

However, this is almost always protection from liability of debts incurred during the normal course of business, ie, if the business fails, the business goes bankrupt while the owner isn't liable.

Don't use fly by night fixit men, go with a trusted team in the area who won't bankrupt and rob you blind.  

In most cases, no buyers arrived, and the investors were bankrupt from the enormous mortgages.