The real reason I'm posting this reply is to highlight this... 75% of your rental amount should AT LEAST wipe out the PITI on that property on a good rental and Improve your DTI with each rental.

First you need to know yiour state foreclosure laws and what gets wiped out at a foreclosure.

Just remember, even if you have a property that cashflows (with tenants in them), with a vacancy and repairs, couple of months of cash flow could be wiped out very quickly.

Yes if they foreclose and it sells for $250k and they are owed $280k, you get wiped out.Note: just because the Unpaid balance of the loan is $280 the balance could be significantly higher due to accrued interest, late payments, lender advances...

If you don't pay those and mortgage company doesn't pay either, then at some point you could get wiped out with tax foreclosure. 

However if you go and contribute and participate and shake hands and kiss babies every month for a year, people probably remember you when they need you.

Think of it like a long term rental and short term rental had a baby.

According to our plumber, it was likely caused from people flushing items down our toilet that shouldn't have been, such as "flushable wipes".  

In this particular case I'm more concerned about wiping out the $14,000 judgment against the property DUE TO code violations.

But these ways of jucing cash flow sound a lot better in theory than in practice (big fan of the efficient markets theory which posits that if you are getting an outsized return there is hidden risk somewhere.) you should buy real estate because with smart leverage it’s the best coc return you can get, doesn’t make it a magical asset class, I think people who go back to fundamentals investing have a great opportunity and will do quite well, I think people who try to significantly beat market returns don’t realize the risk they are taking and the ability to get wiped out.