This situation highlights why working with a solid team and prioritizing financial and tenant verification is essential.

Are you essentially saying the expected higher interest rate is the main issue with the strategy?

Maverick pointed to the agreement we signed that essentially relieved Maverick from any financial losses suffered by us.

I understand not buying more up there, but your initial investment there will turn out well.You can check out the BiggerPockets video podcast and leave a comment if you have questions. 

We have an addendum that we serve if this occurs that essentially gives notice that the home has been abandoned, and if we don't hear back from the tenant in the prescribed period we will take the property back per state code.Check to see if Georgia has this same thing.Then update your leases to include this for future tenants.Or find a rental association that provides leases with these baked in.

They essentially act as a property management company but charge double the fees for fewer services.

Pre-approval for loans is essential, as is learning landlord-tenant laws to manage effectively.

On top of that, I watched Zach and Rick’s videos, which are great resources and completely free.

I successfully operate a small portfolio (3 duplexes and three single families) out of state and a good  property manager is essential. 

I've been watching Chad Carson's videos and his approach of accumulating more properties than you need, then start using that income to pay off mortgages and cull the lower performing properties makes sense to me.