I made a great purchase of my first STR in May of this year, made it an outstanding property and handed it off to a prominent PM company to manage.

If everyone is happy with them then the place is most likely to be in outstanding condition. 

The yard was full of toys and garbage (when I mowed the lawn I had to pick it up) and there was a damn bunk bed frame sitting on the front porch despite me telling her to move the thing. 

So the new owner wouldn't have their house encumbered, but old owner could still be pursued for the deficiency once the property was sold if it wasn't sold for the amount that was outstanding, which in your scenario, personal liability would be $100,000.

-listed shares of Tricon jumped about 28% at market open, hitting nearly a one-and-a-half-year high.Under the deal, Blackstone will acquire all outstanding shares of Tricon for $11.25 per share in cash, representing a 30.35% premium to the stock's last close.You cannot tell me that cash flow is the #1 goal in real estate investing.

I can assure you that Cody and the Clever investor team are outstanding, amazing and most genuine group of people I have ever met and have gotten to know personally and have talked to and met in person several times now.

just frame it in and get rid of it if its that expensive...damn.

Another observation, there are many Asians that have financial issues, foreign funds, tax complications and difficulty in borrowing, I've had several outstanding larger amount type borrowers in such difficulties, I've had European borrowers as well in similar boats but many more Asians.

Damn good thing I had healthy reserves and fairly low fixed expenses."

They now have the bathroom in the back porch, but that damn porch has some SF downtown views!