Same thing with the HELOC.If you don’t repay the lender (default on the loan) then they have first lien position and can take possession of the property.  

A roof leak and half the dining room ceiling caved in... they almost wouldn’t close without pleading and confirming that I was going to fix it as soon as taking possession.

Scott, others -BTW, do not consider cashflows along the way after possession.

Paul Sushereba (NFM Lending, Beavercreek, OH) is an outstanding lender who possesses a truly impressive knowledge of the lending/mortgage process and is also very investor-savvy.Both of these rockstars worked tirelessly with us to close this deal.

However to be honest, these are just rough estimates and you really don't know with any precision the capital expenditures that will accrue once you first take possession of the property. 

In that 50% of them have some sort of personality disorder and possess communication skills on a 2nd grade level.

Previous owner passed away, son took possession and wants to get rid of the property.

Yes, people got foreclosed on, but the banks got swamped and were often reluctant/unable to physically take possession of all those properties, so many folks just stayed in place and paid nothing.

I would check every day-I would not seek monetary damages(rent) but just seek possession of the property as the agreement you have probably  doesnt address holdover. 

you have to hold all possessions left behind by a tenant for 60 days.