Once a bankruptcy is filed, the owner no longer controls what happens to the property until the Trustee, the Court or the specific state exemption statutes decides it is no longer property of the bankruptcy estate.

But I would start simple and get more complex as your assets grow. 

Given the sheer amount of A complexes in Houston now, I've always wondered about that - thought you might be a good person to ask. 

Similarly, where I have a vacation rental property there is a ski resort that owns a few condos in the complex, for their employees.

However, I found that many large apartment complexes, conversely, usually had a lease in some form or fashion that was rent due on the first, on the 2nd or, maybe 3rd, you're late, you got hit with one large late fee, say $75 or $100, then eviction filing would start on the 4th or 5th.

@Jonathan Godes the advice you provided is incorrect, however no fault to you as the code surrounding a situation like this is extremely complex :)@Kurt Pourbaix To answer your question, if all you are doing is lending then this will be considered a passive activity for you so your profits will completely avoid the SE tax aspect.

Management – commercial leases are more complex than residential.

You would reach a larger audience and could possibly end up courting several potential partners. 

The bank wants its money,all of it.If it was a bank foreclosure sale it would be handled by the court and usually done at a courthouse or other designated area.The bank will always bid first for the full amount of what is owed and you have to beat it or let them take it back and negotiate directly with the bank for a lower price.If that's not exactly what's happening here I wouldn't touch it with a ten foot pole.Go back to the bank and get more information and verify the bank is or is not foreclosing on the property at this time.

Two apartment complexes, one 52-units the other 20-units.