The owner has left and the bank has taken possession. 

I think the only time it should drop, is if you actually create a debt by taking out the loan.

I’m a tenant and my landlord excepted the partial payment for the month of August I’ve never been behind on my rent ever before and after she excepted the partial payment I advised her that I would pay the rest with it two weeks the fri i’m a tenant and my landlord excepted the partial payment for the month of August I’ve never been behind on my rent ever before and after she excepted the partial payment I advised her that I would pay the rest with it two weeks  which would have made It  A Sunday that Friday she contacted me and asked me if I was able to make the payment and I explain to her that I would need until Sunday she told me that she no longer one of the payment and she was falling for  possession of the property and do not place any money into her account!  

The below numbers will give my calculations, and for debt service, I'm assuming 80% LTV, 5% interest, and 30-year amortization (I understand these terms are possible to find even for multifamily). 

If you can finish school with little or no debt, I’d recommend doing that.

I had my attorney write the purchase contract and he just threw in a line about borrower recognizing underlying debt on a standard promulgated form.

I am saving cash, limiting debt, but If I see a great deal Ill go for it.  

@Roschelle McCoy please post your underwriting here.The best would be to first run a "back of an envelop" calculation of current actual Rents collected which is the income - 50% = your NOI. then take off debt servicing to see if anything left. 

It is state specific, in some it is an ejection order, or writ of possession, in some it is eviction......either way, they have rights as they are occupants, whether they were tenants or previous owners.

It owns two income producing properties that are debt free.