If you do manage to get a judgement getting that judgement paid is a whole other story.

In my judgement, you can make money in rough areas, but you really shouldn't venture into them in any big way without specializing in those areas.

Eviction for nonpayment which can allow you to get a judgement on someone’s record making it difficult to allow them to rent elsewhere.

Account Closed about the tenant lying, especially starting the relationship which would be a horrible precedent, I used personal judgement to override this and it has worked out so far.  

Assuming that the cancellation of debt is a different calculation than for an actual deficiency judgement...I believe the cancelation of debt amount is simply the difference between what you owed including lender's costs, and what the lender nets from the eventual disposition.

There is no reason you should pay for his poor judgement with your cash.As Joel states approach the note holders and at this time get your finance options in place so you have ready funds to make the purchase.

But in memphis it's difficult to even find an applicant that doesn't have at least one financial judgement against them.

I also use their application process but not sure who I will go with on that next time, I'm leaning to rentprep due to the judgement and lien check but haven't made up my mind yet.  

@Guy GimenezSo I believe what you’re saying is if max liability was say $2M then this would be used to cover both parties (owner and “additionally insured” pm) as opposed to just the owner ... meaning the owner could get the shaft if a judgement came for $1.1M against owner and $1.1M against pm.

I like to meet potential tenants in person at least twice before even offering them the lease, so I use my better judgement to decide if the person is someone that I might want living in my house.