I then noticed them about the late fee, and then delivered their 3-day default notice on the 7th.

The closest thing you can get is default rates from the FDIC.   

@Kern BelfonI am assuming you are referring to the ones that have mortgages.The short answers is that the transfer is a legal event of default.

Anything after that date would put them in default and "put their tenancy in jeopardy." 

.* Put out ads, signs and mailers to attract motivated sellers and pre-foreclosures (get Notice of Default list at county, A.K.A.

The time to find out about tenants in default, no security deposits, sweetheart rent deals and rebates, options, rights of first refusal, claims, suits, etc.... is not after settlement.

Then even if you default on the deal and the bank takes the place back you'd have lost $7500 in your own money, even if the property has declined 20% in value to $120,000.Thing about BRRR is it's really just a subset of buy-and-hold.

Keep in mind also that loan defaults in the US are at all-time lows, incomes are rising, and the percentage of renters in the US is still going up.

I can almost asure you they had a previous case filed and got dismissed.... now , because of the statute of limitations they cant file again for the full amount (depending on their default date)  They would have to "forgive " enough monthly payments to bring the loan within the statute of limitations.Again depending on the property value (and a little more research i would jump all over it. ....ofcourse im basing this on the limited info i have and the hope of a high property value.

If they are not paying rent, then you can probably default them and get their attention.