Negative credit history including bankruptcies or repossessions is unacceptable.Applicant is preferred to have a minimum of one-year verifiable rental history.

There are many so called "property management companies" that have put many investors in bankruptcy or close to it due to mismanagement of their properties- so I highly suggest you do your due diligence. 

Imagine your grandparents are bordering on bankruptcy, and as an absolute last resort they decide to sell their house fast.

Ok, here’s another topic I’m interested in, has anyone been successful with submitting low offers on opendoor properties given all the bad news about this company and in high risk of bankruptcy.

If I were smart - and had the cojones - I would have bought in Antioch and Vallejo, which went through municipal bankruptcy before you moved here.Were it not for the (positive) experience that my local tenants gave me, I would not have begun to look OOS when I was ready to expand in 2015.

The bankruptcy isn't going to help on finding a rental and later on when their credit, work, etc. is stabilized, then they can get the HELOC or cash out refi.

There's insurance proceeds issues, bankruptcy issues, trust issues and so many other fun things we have to deal with as lenders already and when there is a sub to, oh boy...

Now it is listed as a bankruptcy listings for $229k.

They just skip over it saying extension or "pending bankruptcy."  

Sorry hit post there- I think second homeowners in a broadly good market as we are in (not speaking on your micro market which may be different) may not be as motivated as some other categories of sellers (foreclosure, eviction landlords, bankruptcy, etc) so may not have high response rates but that said may not be a saturated market with a bunch of other investors.