Here's Part 1 of my story:https://www.biggerpockets.com/forums/55/topics/690349-from-bankruptcy-to-1-000-units-part-1-thru-the-dark-tunnelNow after reading that story, don't feel bad for me. 

The city did declare bankruptcy a few years ago and there is no school district within the city.

Just be prepared for the tenant to possibly go to court for an order to show cause which may delay things a few weeks.I have been dealing with a holdover for 11 months, they declared bankruptcy.  

@Chad Urbshott  Hey guys this is what I get daily in Vegas for free.. from the title co.. and then when your there to bid there is a rep from the title company walking around talking to bidders when you have further questions.. all for non charge they just want you to use them if you win /  when you resell.1177-10-818-1001115 ADELMAN DR8912320061009-1300 - DOT POS UNK - $30,800** BID WITH CAUTION **PRIOR UNRELEASED DOT RECORDED 11-03-2004, WILL ATTEMPT INDEMNITY $217,500DOT IN FIRST POSTION RECORDED 10-09-2006 $247,2002138-09-713-0347625 ADVANTAGE CT8912920071102-01702 - 1ST DOT - $258,205** UNABLE TO INSURE **ACTIVE BANKRUPTCY CASE - NO ORDER LIFTING STAY ENTERED3178-16-412-00962 ANCIENT HILLS LN8907420060321-3223 - 1ST DOT - $480,853** BID WITH CAUTION **LIS PENDENS RECORDED 04-05-20194179-20-812-089688 ANNE LN8901520060721-542 - 1ST DOT - $128,000HOA - (ASSESSMENTS) RECORDED 03-12-2019 $1,6405177-16-610-009360 AUTUMN HUE AVE8912320070822-4937 - 1ST DOT - $564,350** UNABLE TO INSURE **PROPERTY SOLD.

Also, since this is the first time selling a property, many sellers aren't aware that:Items the title company needs to look for that could affect the sale of your property and is deducted from Seller’s side at closing.  1.Owner of Record, and whether or not they may be deceased2.Mortgages3.Municipal liens4.Unpaid property taxes5.Federal Tax liens (IRS)6.State Tax liens7.Docketed judgments for money (https://wcca.wicourts.gov/case.html)8.Bankruptcy ***9.Child support liens (state-wide per statutes)*** If you declared bankruptcy in the past and your case is now closed, a final list of creditors from your case may be necessary in order to clear potential liens that may have been included.

He filed bankruptcy and lost everything.Equity is what reduces risk.

When I bought a property in 2011 short sale from someone filing bankruptcy here in So Cal, I was able to sell it in 2018 7 years later for almost double what I paid.  

So, if investors are accumulating various forms of debt to accumulate assets it is critical to track their net asset position, otherwise it can lead to bankruptcy if large amounts of debt are taken out irresponsibly.

They eventually declared bankruptcy, closed up shop and sold that portion of the business.

After we agreed to purchase the seller filed for bankruptcy.