You fail to pay off the loan in 30 days and they start a foreclosure proceeding which destroys the previous owner's credit10.

Sub 30k houses are an absolute disaster with a tenant pool that will destroy your properties and make your life miserable.

And I rescued another small group that thought it was OK to buy these with NO equity or negative equity like we see people doing today they did about 35 of them .. then sold on lease options and those started defaulting left and right and you had a big mess.. they went broke and were lucky to not get criminally charged as the sellers of these got thier credit destroyed. 

He's completely destroyed him image on a nationwide scale.

Left the place destroyed and broke a chair.

Only other wild card is if they destroy the house on the way out.

I personally could give a rip about the buyers safety if they dont know any better and get wiped out so what.. but Sellers thats a whole different matter.. a sub 2 gone bad can destroy them financially emotionally physically break up marriages etc etc.

I'll loose a lot less money and sleep keeping the property empty for another month than renting to tenants that destroy the property.And your statement regarding must rent to the 1st qualified applicant. 

This also allows for property owners to more easily write-off assets that get damaged/destroyed as the value of these assets is determined as part of the study.

I do have folks that don't book because of that.That is a good thing as not understanding the distance to get places will create bad blood and cause those 2 and 3 star reviews which no one wants to see.Like @John Underwood, our place isn't cheap so we don't get the folks that destroy places.The bottom line is that you are renting out an expensive asset to strangers for 3-10 days or whatever.