Quote from @Bruce Lynn: Quote from @Don Konipol: This is a story from my past that provides a perfect example as to why investing in tax liens at auction is so dangerous for any but the most experienced and knowledgable investorsGreat story....maybe not the exact same circumstances, but I see crazy stuff like this all the time. 

If they’re late a third time, you have a strong case for eviction for habitual non-payment—without risking the tenant showing up at the 11th hour with the money.For your specific circumstances, with only a partial month behind, I would guess there is a decent chance they can come even on rent and it would be a waste of your time.

I have seen these circumstances; people die, go out and buy a car, lose their job, etc… Just my own two cents, I’m not an attorney, just play one on TV

The financial of property is good:      DSCR = 1.3; LTV = 45%;Both my liquidity and net worth passes Chase's test.

There are financing options based on your specific circumstances. 

But could be a great deal for you in the right circumstances.

Personal Circumstances: Consider your comfort level with debt and risk.

It would be nice to cashflow that much with no money out of pocket, but everyone has their own strategy and circumstances. 

I will under no circumstances take responsibility for the safety of a tradesmen if there are pets on the property.2.

One of the biggest issues is probably borrower default—whether due to mismanagement, market downturns, or unforeseen circumstances, lenders can end up in long, costly recovery processes.