Crazy things happen in life and everyone is human. 

IMHO, this would have seemed like the humane thing to do considering they didn't seem to have all that much time to locate and secure a new rental (which can be difficult for even the best tenants with a voucher).

AVMs, which is just some math formulas that derive a value based on some inputs is void of human input and interpretation.

Jon Klaus - all good questions, and probably no really clear answers.To try to give a clear answer, if the property needs rehab, but you do not rehab but just hold it a year and then sell - that could probably be justified as investment rather than inventory, especially if you aren't already categorized as a dealer.

Let us know the outcome on the RATS.... the human ones.

I have talked with a local dealer who sales all of 21st repos in the area and he said he would be willing to put homes in the park and sale them sited.

After cleaning up the mess I was like wow this is how drug dealers do it!

s response; yes, you are a business owner and you need to make sure that you are making good business decisions, but you are also a human being, and kicking out otherwise good tenants while they're already struggling with a tragedy is unkind. 

Keep in mind that this was a one off incident with a guy who had been on several combat tours and was a great human being otherwise but he got a little drunk and peed in public.

We horse people can be deemed a tad crazy (think: Best in Show), so even if your equine tenants are saints, their humans might not be. :-)If you're truly serious about getting in the business of boarding, you'll want to be very clear about what the demand is in your area for boarding (in general), and what type of demand there is for the operation you want to run.