Hands-off, Core Four, magic spreadsheet, minimal reserves, BIG believers in the power of positive thinking, putting lipstick on pig after pig all the way to bankruptcy court.My husband was also an English major, and while I (the computer science major) usually focus on acquisitions, he always has veto power and he's not afraid to use it-- lol. y'all English majors debbie downers. 

I was 26, i started building a house ,$160k, before I left the Army in 2007. moved in 2008, just 1 month after leaving military. by 2010 it was down to $72k. we just up and left it, our street only had 6 occupied homes and over 15 who had short sold or just up and left also. we foreclosed,  and bought current house in 2018, had to rebuild credit, did not file bankruptcy, saved 10k and got a va loan for our current house and a 690 credit score

Of course mortgage insurance and other factors play into this, but ultimately many people end up filing bankruptcy after foreclosure. 

Your 401K has protections from bankruptcy and divorce.

Only three years of seasoning is required on foreclosure, short sale, bankruptcy, or deed-in-lieu.No employment or income documentation required.

Bankruptcy while in primary residence is not a strong enough incentive to sell either.

Even if you go through bankruptcy they cannot be discharged, so I would pay those off first and fast. 

Cons:-Unless You Get A Scholarship Or Have Someone Paying Your Way, You Start Life Substantially In Debt And it's BAD debt - there is no relief from that thing, even in bankruptcy. 

The updated rule requires servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, clarifies borrower protections when the servicing of a loan is transferred, and provides important loan information to borrowers in bankruptcy.

I left them all and have been working in the Cleveland markets for about 10 years, I recall buying one in Detroit about 11 years ago, total disaster, we just walked away, I am sure you can be successful there, however, you better have a SUPER team in place.All the best   A lot has changed in Detroit in 11 years. 11 years ago, the city hadn't even declared bankruptcy. 2013 was the burnt ashes and the phoenix is still rising.