We visited this property, and two others.

That's why you need to visit your tenants every so often no matter the neighborhood.Maybe slumlords do well with those kinds of properties, but I am not and do not want to be a slumlord.  

This will serve two main purposes for me: First of all, I will be establishing a network of resources I will be using to go about my own investments in the time ahead, as well as resources to recommend to investor clients whom I work with.

By it being the most populous region in the Philippines, it is truly a beautiful place.That would be a good incentive for me to acquire some cash flow to visit there one day.  

My sister lives there soI've become a little familiar with my visiting.

Let me go ahead and re-phrase your initial response for you, so that you can get a better idea of the type of community that BiggerPockets strives to be:"In my experience, tenants will do what they are trained to do.

I could, however, rent it seemingly for the long term and still come out ahead each month with the higher loan amount post-cash out, so affordability wouldn't be an issue.

You'd probably be best posting this in the real estate agent forum or visiting the NARPM Website and finding a local PMP. 

However, if I could get this property for a low amount, it might be worth the headache of going through the court system.I know I have a lot of due diligence ahead of me, but wondered about people's successful experiences buying property from owners in bankruptcy....Any advice is welcome!  

Rob,Just a heads up, refi with cash out will be very strict, completely different experience than regular refi.