Poor communicators, poor housekeeping skills, prescription med abuse, big dogs that they couldn't properly care for, damaging, etc.

I don't believe you would properly replace the debt in this situation.

Still, not changing over the utilities in the winter is stupid but the PM should have checked the unit to make sure everything was set properly - heat down but not off, lights off, etc. 

Like Jake Baker suggested, keep good records and have a dedicated bank account for your property, properly separating personal and business expenses.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Zach Howard you pretty much MUST hold it in an LLC if you don't have the proper visa or greencard.1) Many attorneys over-hype the benefits of an LLC for each property.

It sounds like the proper expectations weren't set when you took them on.

With that comes different exposures and risks that they need to properly rate for.

I like umbrella because there is no worry of being pierced for inadequate separation of finances, if sued you have a heavy weight in your corner who has all the consequences of a defeat, and because usually it is reasonably priced (mine today is not so reasonably priced but I believe it is mostly related to the risks of CA).I do understand that the probability of needing the umbrella policy is low.  

You did things outside of the normal without proper knowledge.