So she only managed our properties for under 60 days but still owes us money.We'll file the legal paperwork for the bankruptcy but likely pennies on the dollar will result, if at all.  

Becuase I am a lender an defaulted loans rarely if ever foreclose (less than 10% of ours), and the borrowers will file bankruptcy.

(Interestingly I had a number of people that reached out that had prior bankruptcies, and I actually don't mind this because that means they actually got rid of their debt.).The ad also states that that they will be responsible for a $40.00 background check AND that if they are chosen as a tenant then they need to have a checking or savings account because the rent is collected electronically through erentpayment.When the people called (And A LOT of people called) I let it go to voice mail.

One of my tenants has filed Chapter 7 bankruptcy.

@Matthew Netwon IMHO, it's most important that they don't have any evictions, vehicle repossession, bankruptcy....that they do have verifiable income that they have been working for that company and/or in that field for several years or more.as @Marshall Leipprandt said, you should do rent comparables to determine a good starting point and then if you do/don't get enough calls, adjust accordingly. 

In reality, IMO, an investor who buys a new note, who is not in the business of repetitive unseasoned note purchases, won't have a big issue with the lending side unless that note becomes an issue in litigation, I don't think a bankruptcy judge would come unglued, I only see a possible issue with such being in concert with other note investing operations, but, someone who is in the business of repetitive funding can have an issue.

He is still working, been through bankruptcy, and barely has two nickels to rub together.

@Douglas BennettJudicial states are scheduled through the courts and non judicial states are done by trustees who typically post on websiteBoth also typically publish in the local paperJust realize very few foreclosures end up happening - 90% of our portfolio that is in foreclosure gets haulted by a bankruptcy which makes sense due to equity in the property and lack of other options for the borrower

Hello everyone,I have an applicant for one of my units who has a Chapter 7 bankruptcy on their credit report.

At the top of my qualifications would be: No evictions, bankruptcy, section-8, no more than one minor credit issue (late payment), income must equal to at least 3xrent rate and good rental history/reference from prior landlords.