Bankruptcy is not an option they are wiling to take right now.

You said you want to buy a distressed property through a realtor, then rehab it yourself and turn it into a rental.Most distressed properties on the MLS are gone quickly if they are really a deal at all, so unless your realtor has some sweet inside info (pending divorce, bankruptcy, etc) you may not have much luck there.

I do know a fair amount about credit scores and theoretically, IF someone with otherwise great or good credit somehow had their financial world collapse on them and they filed for bankruptcy or were foreclosed on, I suppose that would fit your idea of someone with one big screw up on their credit that disqualifies them, at least temporarily from buying a home.

Partner separates from wife, business fails, divorce, files bankruptcy, end of partnership. 

In short, if you declare bankruptcy the courts cannot seize your homesteaded property to pay off those debts. 

Afterwards she will have to file bankruptcy most likely.

Lost 5 houses and didn't do bankruptcy because this house.

He has a deadline - due to foreclosure, but it's not his only option (he can file bankruptcy, try to do a short sale/loan modification.He knows what his house is potentially worth probably has spoken with investors and real estate agents alike.

The only exceptions are when bankruptcies or estates get involved into the mess.However, if you are only doing this for 1 house that you intend to hold for any length of time it is silly to consider learning this skill.    

Although I'm pursuing mainly people who have recieved foreclosure initiation from their bank, my question is regardless of what ever method I'm pursuing whether that be probates pre foreclosures lis pendens bankruptcies or divorce etc.