Some ideas I've considered:Equity Buyout: Having another investor or my partner buy out my 40% equity.Seller Financing: Selling my equity and offering seller financing to the buyer.Selling the Property: Liquidating the property entirely and splitting the proceeds.Does anyone have experience with situations like this?

If the tenant has low net worth, a court judgment is practically worthless.Taking a week to vet a tenant can save months of headache.

When you do this long enough, you get an idea of what a tester asks about or they start digging.  

Below is the link of the property:https://www.loopnet.com/Listing/927-Dixon-St-Tiptonville-TN/...No idea why it would be listed in the title unless the owners took some kind of government incentive that requires them to only lease to section 8 tenants.

You have a head full of ideas, and that is a good thing.

Best practice is to keep one or two payments in reserve from the buyers down payment for such instances.

I’m gonna have to stretch if I want to buy in Los Angeles again, but I still think it’s a better idea than not.

But it might be a good idea to raise rates each year or so by $50 to $100 because it can communicate that you aren't completely checked out, and you value your property, your time, your investment.

Blood gets thick and the worst part is 10 years later there are new voices in their ears, telling them all kind of crap and filling it with all kinds of ideas. 

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.