If you can take the property on yourself, in terms of capitalizing the purchase either through debt or equity, I would pursue that angle and leave this current owner out of the picture as much as possible.

The only way they could, would be to pay down the existing debt, or to pay you money to take their property.

There are eviction attorneys, creditors bankruptcy attorneys, debtors bankruptcy attorneys, mortgage attorneys, constructions attorneys, broker defense attorneys, contract review attorneys (along with the 100 other things they 'specialize' in), appeal attorneys, trust attorneys, criminal defense attorneys, divorce attorneys, real estate title attorneys, foreclosure trustee attorneys, attorneys that passed the bar and can't figure out what's next, constitutional attorneys, tax attorneys, disbarred attorneys ... and the list goes on.Anything specific you are looking for?

I would sell off one to pay for the debt (or most of it.) 

Used when buying streams of debt or Notes at discount.One of my favorite present value of money equations and one that got me out of a lot of my OREO was Zero interest financing... 0 interest for 30 months has the same PV as 7 years at 15%...On the topic of how you introduce yourself.. for me..

At some point the debtor will need their credit and reach out for payment arrangements options.

Joint and several liabilityIf you are two or more persons, your obligations as debtors are both joint and several.14.

Can anyone foreclose on a property or does it have to be the 1st debtor?

Of course a debtors ability to file chapter 13 bankruptcy is limited and dependent upon the debtors financial situation. 

Hey everyone, I am wondering if it makes more sense to pay off existing debt first such as student loans credit card and car debt, or to save up instead to put a down payment on a rental property to bring in passive income.