Patrick will probably figure it out with the property info.I have this curiosity if there are situations where lenders give up collect-ability of old notes and recovering the collateral.  

If you can't sell to recover your losses, you might be out, other states you obtain a deficiency judgment and hope you collect from that.

You will have some advantage in that your monthly debt service will be lower in Scenario 1 but the time to recover the difference is estimated as follows:Payment SavingsCost to Market ReadyRent loss while making the property market ready: $1000x3=$3000Rental Period to recover additional cost if the rent is $1000/Mo.

I'm planning on accumulating properties long term, so I'll recover from any dip over the long term. 

Found this in the Arkansas Code:"If the tenant's holdover is a willful violation of the provisions of this chapter or the rental agreement, the landlord may also recover an amount not more than three (3) months periodic rent or twice the actual damages sustained by him or her, whichever is greater and reasonable attorney's fees."

There will definitely be a lender that has a lien recorded against this property and the lender will look to recover the money owed. 

Your community owner/operator, however, can recover the cost of providing utilities to you indirectly through your rent, as long as such costs are distributed equally among all households. 940 C.M.R. 10.05(4)(c).

I had an unpredictable bad medical issue make me find bigger pockets about 20 months ago when I was medical recovering and spending a lot of time at home.  

Avoiding bubbles is better than recovering from them.  8-)

First of, Berlin had to recover from massive bombings at the end of world war II.