That said, not everyone is a good troubleshooter, that takes a certain logical mindset to take in all the aspects of the situation, filter it through your mental database, and come up with the answer.

Hopefully I was able to clearly convey the situation. 

What is the best way to protect myself in this situation. 

@Neddie Smith I was in a similar situation with a partner of mine (technically, my partner's pension fund) and we discussed this with a very experienced and competent attorney several times. 

Wondering if there is a collections agency that routinely takes on situations like this, and if so, what that process looks like.Curious what other landlords have done that have experience with this.Thanks,Brent

It remains a strong seller's market in most areas of the country, and most of us agree the market is close to it's peak.Beyond that, it's hard to really offer specific advice without knowing more about your situation and your  properties. 1031 exchanges are a great way to defer taxes, but they come with some hoops you'll have to jump through.

I can't give you a solid answer on which would be best for your situation, but just a few things to keep in mind. 

So you may be in for a devil you know rather than the one you don't situation - which is why you're not feeling the love for a 1031 exchange.Many investors (we're talking like rats off a sinking ship numbers) are leaving areas like this (not it's not just CA) and putting their money to work in other geographies or other classes of property. 

Anyone ever have this happen, or any advice on this situation? 

I suppose one shouldn't laugh at something like betting on which lawn furniture flies away first, but it's always good to find the humor in any situation.