If I end up having to pay it, fine, I'm not so much concerned about that as I am if the property manager was irresponsible in doing this, so that it doesn't happen again.Bloomington is a great place for rentals, I own in an area more populated by community members and graduate students so I've had pretty good tenants, including a married PhD student/professor who stayed for 3+ years.

This is why grad students are often better teachers than long time professors; they are closer to the student level and can empathize with them but just far enough ahead to point them in the right direction.

My renters have been professionals (college professors, Engineers, etc.)

The Mortgage Professor's site has a lot of canned spreadsheets already built.

I'm going to suggest to a professor of phycology to visit BP for some class case studies.Maybe you guys have some really bad appraisers.

I definitely know the area fairly well and even have some good tenant sources in the Loma Linda area (I'm a professor) and I have to say if you're going to rent to college kids, a Seventh Day Adventist (no alcohol or caffeine) Medical school is a good place to start.

When I was taking my graduate courses in 1999-2001, my favorite professor said something that struck a nerve.

Well, the ones first to mind are regulators of any industry, those in the industry and usually educators, some professor at Harvard or Yale.

Several of his professors had net worths in excess of $10m.  

It's like a new Professor every episode that doesn't bore you to death!