To further improve cash flow, look into doing MTR(travel nursing) or if possible STR(more risky).

Proceeds to segregated account to be disbursed ONLY on rental property improvements and expenses to preserve the deductibility of interest on your Schedule E.

. $10k in debt does not seem like it is worth filing bankruptcy as you also will have the filing fees to file bk and if you use an attorney it could be another $5k, To me if you can save $10,000 a year then start saving and pay off that debt, as filing bk will hurt your credit wehere paying off these debts will improve your credit.

If there's a lot more headache- then I encourage you to implement or improve a Complete Household System, try to get SFR's with 6-11 bedrooms, no more than 3 rooms per 3/4-Full bathroom, and make sure there's one (not more than one) beautiful living room with a big screen TV. 

You can still find single-family homes in the $80k–$100k range and duplexes in the $130k–$150k range, even in C and C+ neighborhoods that are seeing steady improvements.

If you invest in RE, whether active or passive(management team, syndications, crowdfunding), I'd love the chance to quickly explain the structure and hear your thoughts on what might need to be improved.

We added value by furnishing the property, added 2 decks (one for a solo stove, and one for a large hot tub), improved the gravel driveway, mulched the landscape, and added a lot of string lights.

You might choose not to renew leases, make improvements, and then raise rents after taking over.

Plenty exist for private lenders (which is what seller financing is) and can track payments and am tables and also do automatic electronic withdrawal (ACH debit) which helps improve the likelihood of getting paid promptly each month.

Since this is the tenant's money, I want the bank calculating and holding everything versus storing balances in my spreadsheet.