There are many millionaires who made their money on SFR Rentals and there are many bankruptcies coming from the same category.

To save the house and buy time to consider which way to go I filed a Chapter 13 Bankruptcy. 

Here's a high level checklist, assuming you have done all of the important due diligence up front, especially the tax and title review and BK search.Initial StepsBoard the loan to servicingReview the hard copy collateral and make sure everything is there - Original note, assignments, allonges.Record your assignmentIf you don't have a BPO, get one or find a local agent to do a drive by and give you a first hand opinion on value and condition.Contact the BorrowerIf the borrower is in active bankruptcy, the following bullets do not apply. 

The hidden issues are the tenant drama, frequent move-outs and vacancies, and sadly excessive damage repair.Hopefully you are aware that San Bernardino is in bankruptcy.

I am in a bankruptcy (chapter 13)3.

Most lenders aren't going to postpone one day before sale unless the borrower has filed for bankruptcy.

I walked away with a lot of money and was sitting on over half a million dollars and figured, why not get rid of the debt that bankruptcy can never discharge.

(Particularly if the creditor is also from that state and the suit is in state court and no bankruptcy is involved.)Most lawyers are not very well-versed in asset protection strategies and you should select your lawyer carefully if you wish to do asset-protection planning.

Coz i know that once you file bankruptcy chapter 11.

This includes: · A large premium or discount · An obligation for the developer to sell our units before closing Note: This is not a buy and hold strategy · Clauses that can protect the purchaser from a downturn if the market was to experience a correction · Protective terms to withdraw the client’s capital if the project was to experience construction delays or declare bankruptcy The outcome of our model is to control the points of contact per our contracts and addendums with the developer mitigating our risk and shifting a large portion of the risk onto the developer’s shoulders.