But she had filed bankruptcy chapter #7, so that I don't pursue of her additional rent, expenses for change over, etc. 

The parents often hinder the kids by them having massive debt with a degree they can't even get rid of through bankruptcy.

One question is if a big enough percentage of units can be redeveloped fast enough, as well as some legal issues in the case of a bankruptcy.  

The window between you being the successful bidder at the auction and getting the new deed recorded is also important because the prior owner can file bankruptcy during that time...... many homeowners aren't aware of that, but if they happen to talk to a bankruptcy atty you can bet they'll learn about it!

Actually, I follow Detroit regularly.Couple years ago, when Detroit filed for bankruptcy, I had thought about investing there.But due to the long distance, I did not.

If you must declare bankruptcy, you might lose the family home deduction. 

No bankruptcies, 700+ credit score required, 3x income, etc.

Even had one guy with a bankruptcy who I gave a chance to.

Lenders like b of A used to approve mortgages to those filed bankruptcy previously and they turned out to be reliable borrowers.

But ton of people talking about missed payments, fraud, bankruptcy, banking issues etc.No clue where it stands currently as I use a PM and they pay me directly.