I am the "rain-maker" myself.

You may find it hard to collect but you can get a judgement against them which will warn other landlords.You can garnish their wages and tax refunds once you have a court judgement.

I am in Florida and have never heard of needing a money judgement.

It would be ignorant of me to ignore that and assume I can buy whatever decent house is listed and expect a 60% increase in 4-ish years.Not trying to rain on your parade, but you are ignoring (maybe inexperienced to the point of not realizing) that your data is from a historically unique period in real estate and shouldn't be extrapolated to an if/then equation.I hope you do make it to being a millionare by the time you're 35!

The cars get wet when it rains? 

Especially if the college town is somewhere like Georgia where it rains regularly. 

I don't want to rain on your parade, because you definitely are doing an analysis but what does it any of it have to do with the future?

I prefer states that are landlord friendly - for example in Virginia you can evict for non-payment and usually get a judgement and possession in a few months.

They clear the liens, remove the occupants, and put it up for sale as an REO on the MLS with a listing agent.If a mortgage, the foreclosure process has to go to court to receive a foreclosure judgement.

@Lucas Thomas  Most of mine stay multiple years without the 2 year lease if things go south it isn't with someone who is likely to be a good judgement candidate.