He starts to spew hyperbole stating that we had bankruptcies and low credit scores and were low IQ people.

Bankruptcies emerge, starting with Lehman and multiple other major financial companies about to fail. 

And it will cost you more money to try to find where they are sue them for breaking the lease trying to garnish them if you can find where there jobs or ne jobs are located and don't let them file Bank Ruptcy on you that's a nightmare, than just re-renting the location to another tenant and moving on.

You'll also want to plan for things like death, bankruptcy, excess damage done by one of the parties...You'll also want to think about future generations, and getting split up down the road, or how it could be sold to someone else if someone gets in trouble and forced to liquidate and the remaining partners can't pick up the balance.

I'm new here and I'd like to know if I apply for a business loan and the business goes south, if I file for bankruptcy would that affect a rental property that I might have under a seperate LLC?

If you lose a tenant, you won't have to declare bankruptcy!

Not worth the thousands I'd lose having a vacancy if they left over the $200, though they have a dog and a bankruptcy thus a hard time finding a place to live, so unlikely.Details:Mind you, I lived in this house for 2 years myself and only ever got one notice a year to weed my flower beds, just like everyone else did.For the past 8 months, I've received an HOA parking or other violation every other month on these people.

State your rental history and bankruptcy requirements.3.

This tenant has filed for bankruptcy.

I would bite the bullet and pay the $34.00 background check per person myself and don't squawk about paying this yourself, especially if you're already paying hundreds of thousands of dollars for the property.If you see previous evictions or bankruptcies or felonies on the Smartmove report then you need to strongly re-evaluate if you want them as your tenants.