Remember this is a business, although the kids made a mistake, what if the entire unit took fire damaged?

There was always some mistake that the bank, title company, or realtor made that held things up.  

Some of the worst advice I ever got was "free" advice.

I do think you have options available to you that will prevent the "worst case scenarios' that you are envisioning are not going to come true if planned out correctly with the right professional.

What are some common mistakes made by new investors? 

although I was also loaning there in 06 07 and got stuck with a few of those that I loaned 80k on a 150k house only to sell it for 30k.. that's when I decided to go down there and buy those suckers.. it was the worst of times there for a while but all in all we made it back plus a bunch.good post.I use to get in many debates on the Australian forums about what was better in 2001.. buying atl. for 30 cents on the dollar.. or those hawking rentals in Texas and touting the market never crashed.. well it did not crash but the houses did not double either and its dog tough owning rentals in texas great economy if you live there but not necessarily a great buy and hold place in my mind and NO where near the profit potential ATL had in the day.

I'm just looking for Texas and Georgia post-foreclosure management referrals in order to be ready in a worst case scenario.

He replied that he was never evicted and the report must be a mistake - or another person.

., assume the absolute worst scenario with the septic.

Your parents should have done better research on there areas of investing vs, buying the cheapest properties they could find in the worst areas.