If the system is not working properly it will balance out for instance if poeple get screwed so do the banks who have to go to foreclosure, either people are going to smarten up or the banks will decide to enforce stricter controls as to not loose money.

Also Car Notes and Time Share notes.Note Buying is some times more riskier than Whoesaling or Investing as Rental --IF you have money -- learn first about basic real estate investments - then get into Note Buying You have to perform proper due deligence to buy notes.

It's a mess and he wants no part in properly addressing our exposed liability issues and succession issues.

Take the "FEAR" of success quiz at:http://www.fortune.com/fortune/quizzes/careers/fearsuccess_quiz.htmlMany investors believe that successful investors are simply in the right place, at the right time and their is some truth to this but the fact remains to be a success in this game one needs the proper mix of:Luck + knowledge + compassion + skill = successGetting your foot in the door of a foreclosure prospect reaches beyond what most of us have been taught in seminars, books and tapes.

You don't need to micromanage, but I'd call and make sure things are going okay every week or so for a while to ensure things are on track, especially around time to pay rent.They posted a good post about finding & interviewing a PM on the Bigger Pockets blog HEREDid the tenant actually leave?

I think the key will really be in the marketing.If you can market the properties properly, and you can get some interest/excitement for the project, you'll probably be set!

This ensures that you have the contract.

I guess the next step is to start educating the people of St.L how to act as a tenant, and how to properly pay bills.

That is; (1) outline the points you want to make, (2) put them in order of descending importance, (3) sub-categories for the back up info on each, also cover what action you are taking (firing) and what action you expect from her full refund etc), (4) actually writing the letter, (5) make sure it all fits on ONE PAGE (6) proper business letter format, (7) spell checked, (8) set it aside for 24 hours to cool and then re-read it for effectiveness, Then mail it.The only good job of management is the one you do YOURSELF. all cash

If you simply throw your property into an LLC or Corporation, then fail to maintain the entity properly, you make it much easier for an aggressive plaintiff/attorney to set aside the corporate veil and come after you personally.