Well, I worked really hard for my real estate, so its really scary to lose my rentals.

So for example, if you buy a property for $150,000 that's worth $200,000 (i.e. 75% of it's worth) and it loses 25% of its value.

@Lindsay GittensVery common, I’m planning on doing this, try to work with people with something to lose like credibility if they screw you over or possibly partner with someone boots on the ground.

It's hard to lose money when you're doing it yourself because your costs are so low.

@Isaac Gwin don't lose heart!

That will get the tenants attention because if they get evicted while on Sec. 8 they lose their Sec. 8 and they may just hightail it out of there. 

I have a recent tenant in same situation, gave up losing due to bidding wars.  

They didn’t lose their mind they said OK, we understand let’s find you another.

Because if you don't get that bank loan in 5 years than you will lose the property when the seller takes it back for term default, and all you down payment and work will be lost.Lender's like long-term tenants.

Don’t lose the house over 10k, sounds like you’ve got a good opportunity here.