The only negative in this situation is the one you created in your mind when you chose to look a gift horse in the mouth.

Our laws do not allow liens to be put on non-exempt property which includes:Homestead- One can own a $1 million dollar home free and clear and it cannot be touch12 Cattle, 2 Horses and 120 chickens- LOL but trueBelongings and furnishings- Can't be touch up to $30,000(Not positive)Guns- Don't even try to go after someone's gun in TexasBibleFarm equipmentOne car per family member and so onWages cannot be garnished as well. 

If the horse won some national shows it could be worth in excess of $250k!!!

(Best to get it from the horse's mouth).

I have friends, who in the same sentence, told me they have money problems, but just bought a horse.... um....ya...

A prior eviction, especially a recent one, is a huge red flag and one of the few absolute disqualifiers when I am screening potential tenants.Anyone with a prior eviction will likely know more about the eviction process than most landlords, especially when it comes to stall/delay tactics.Besides, if they both have jobs that can "support the rent", then why did they recently get evicted?

I will not take any sort of working guard dog because of iabilty issues.Mostly, my tenants in those properties have horses.

good point jon, however it seems it may be best for him to be a passive investor..that being said i won't solicit him and beat a dead horse to give me money..however it could be something for him to think about in the future..even if it doesn't go to my investments...partnerring with somebody could provide great returns as we know with little work on his part...thanks

It occurs to me that I may have the horse pushing the cart here - I understand that foreclosures on raw property will be much scarcer than on housing, but am I wrong to assume that they do sometimes occur?

Horses for course.