Property management will deal with the headache, but your pockets will have to deal with the loss if they decide not to pay next month because the doorknob doesn't turn the right way.

Personally, I bought one at my primary residence and could not use it, straight loss of $450.

Even if you have to take a loss to make them whole, it is worth the little money you lose to be able to continue to do business with them. 

FHA mortgage insurance is for life of loan...it did not use to be this way, and will probably change in the borrower's favor later this year, as FHA is flush with cash after years of losses. 

Cut your losses.

The property manager kept asking for money until there came a point where the owner gave up and decided to cut their losses.

I know in the court systems we as landlords can try to recoup losses, but why do we have to do all the work?

The IRA/401k capital in the deal would be a 100% loss, but this is not a distribution to the investor.  

The owners kept all of there notes on notebook paper in folders and always showed a loss on their taxes.  

Your Profit and Loss Report is your Resume!