But I'm sure you understand that I also need to protect myself, just in case the rent doesn't get paid."

He shares a ton of content on what to do/not do and how to protect yourself

My point is, i'm confident the junior lien is crunching numbers to see if they want to protect their position and possibly bid at sale so, if you are planning to bid, be prepared for competition.

You should also protect yourself with plenty of homeowner's insurance coverage and possibly putting the house in an LLC/trust.

A real estate trust will create a veil of anonymity to protect my real estate investment.

Parking your money to wait on a deal to show up is like taking your best players out of a game to wait for the other team to get tired before you put your players back in.

Conscious decision, timing was important, price reflected generous buffer for known needed work.What I didn't realize is, the tenants are kind of irresponsible slobs, and rather than reporting things to me or applying a _proper_ fix, they'll do a hack fix (e.g. they tied a piece of cloth around a pinhole leak in a pipe, which resulted in expensive water damage years down the line).I've run into a such few cases, where repairs were needed due to long-term tenant negligence (when they rented from the previous owner, so basically before our lease), and I'd like to protect myself and hold them accountable for any future such things that come up.

However, in this case it would make it to the probable category as the rental property itself most likely falls into to the non-exempt category of assets protected by Texas aw  

@Taron Wright Sounds like the agent you are working with is already putting work in for you so he is doing what he can to protect himself if he is going to invest his time to help you clients. 

I haven't talked to an attorney yet, but how safe is it to protect the property in the worst case?