no. many folks here are ignorant, self righteous and bubble hasnt popped yet. many here think its still ok to discriminate or try repunish. many my tenants are have been felons or misdemeanors. ...1. know many who are actually innocent only self righteous dumb sheep like government types ignore reality that 25% of all convictions are bogus. see innocence project as examples.2. if do full background check on all tenants. 

I agree with your comment about "ignorance of seasoned investors / lawyers." of the transaction. 

Anyone that prices things at potential rental value i generally ignore. 

I'd just ignore the tenant and move on to another one.

@Engelo Rumora – we would thank them for the opportunity and then elaborate the terms in which we would do business with them, while pretty much ignoring everything that they’ve asked for.

They're nice guys so they are very unlikely to ignore you (I won't say certainly because I don't want to volunteer their time and attention for them - but the odds are certainly in your favor.

Track down the new owner of the debt to complete the short sale and wake a sleeping creditor who doesn't need to play ball; or ignore it somehow (bad title company) and the new parties in interest get foreclosed from first lien position by somebody just waiting for the opportunity to squeeze everyone.

However, I seems like you’re more concerned about getting some VALUE from this, like any investment.First attorney I consulted with (over 40 years ago) wasted my time and money and taught me nothing except that he was ignorant about topics I wanted answers to. 

The seller apparently ignored this notice.Twelve days later, the city conducted the re-inspection, and the seller was charged $151 in re-inspection fees.

I'm not saying you need to buy a multifamily property, and I'm ignoring closing costs, repair costs etc.