This way, when problems come up everyone helps each other out.On several occasions way back when, I would call a friend who had plenty of cash who could "bail me out" when rehabs went over budget or when I was trying to do several deals at once and needed more cash to finish everything up.

You will always have contract nurses and doctors looking to rent for 1 to 3 years or even 6 months on occasion.

We have had to write letters on occasion for the underwriter why we might be moving to a cheaper house, or a bigger smaller house. 

But I'm looking out of state on occasion. 

On the other hand I have on occasion made purchases from the picked over list.

We've had similar things happen when we've taken over properties on more than one occasion.

On occasion, we have.

We had to call the police on multiple occasions...

I didn't have a good reason to give him why he should do a short sale with me first and then file his BK to take care of the rest of his debts; of course I told him he needs to ask his lawyer what the implications are to help him decide.I know too that dealing with folks planning on filing BK may not be favorable, but on occasions such as this, it could be a good sized deal ($40 K+) if I have an answer or at least a solid reason for him to go back to his attorney with, and eventually get the deal.

We explained to him on multiple occasions that as soon as we got some type of payment we would absolutely fulfill our obligation and to work with us, like every other Landlord and Business I know.