Ask yourself what would happen if China wanted to collect on it's debt: oil over $200/barrel, depression, and a complete bankrupting of the nation.

and what kind of practice that lawyer specialize in?

Once a court grants you "unlawful detainer" you are on your own to collect back rent and damages from the tenant.

Anyone able to comment on the practicality of this idea?

An attorney can “levy” assets to collect on the debt.

Personally for me I would want to find a local deca-millionaire veteran/seasoned investor that has a business plan that is very similar to mine and work for him (small maintenance items, cutting grass, collecting rents, placing bandit signs, researching deeds, etc) free of charge for a month or two as he explains to me why he does what he's doing and takes me with him when he's analyzing and negotiating deals.What I don't like is the fluff in the guru pitches that don't really tell you what to do and make everything sound like it's as easy as buying a certificate of deposit.

Collecting from an IRA… almost impossible as it is considered a retirement account and in almost every case, free from creditors attaching or seizing.

I am collecting income from my renters of $2350 monthly and the mortgage is $3,098.

the landlord shall disclose to the tenant in writing...the name and address of the person authroized to collect or receive rent and manage and maintain the premises, and who can readily be contacted by the tenant".Since I will be managing the properties myself (collecting cash), along with doing my own repairs...I do not want the tenants to know where I live!

I also new brokers that would not use them since this was there practice doing a refinance.I guess when you are too greedy even the best will fall.