The downsides are the high barrier to entry and time it takes to close, but the re-sale value is always high and time it takes to sell is unusually quick (about 75 days on average), but my listings usually enter contract in under a month.

If she doesn't qualify, let her know so she can move on with her housing search.In a tight housing market it's not unusual for a people to try to get a jump on a property before it's advertised on the open market.

Another tenant I had, had simply forgot because she extended her vacation an extra day and was very apologetic - I called her because she had always paid on or before the first and it was unusual we hadn't received it yet. 

That's just an unusually low rate for a non-owner occupied loan.

If anyone knows of an attorney that you think would be good for this unusual property purchase then it would be greatly appreciated as well.

Ello,Another option is to hire a CPA for this year and see / ask questions about what they are doing and various considerations.Not to take business away from Lance but unless there are unusual circumstances, it is not rocket science.

Are there any unusual rules that govern properties when owners get sent to prison? 

Unless there's some unusual and explainable circumstances, you probably have a problem with either your management, your tenant screening process, or the property itself.

If your WHY is strong enough, you will find your way; and it would not surprise me if if you make it work through a bunch of unusual and odd circumstances - you'll hear many of these stories over time.You have three things to invest: money, time and energy - usually a combination of those three, somtimes only two.

It's not unusual in hot markets for some houses to spend months in the upset bid process.