They would be entitled to keep what state law dictates if they can prove damages, and nothing more.

Banks are stupid in regards to residential loans in that it doesn't really matter all that much to them what your LTV is if you can't prove you have an income (which could end the next day) to cover the loan payments.

Tough to find any good buy-and-hold deals in that area on the MLS these days.

I think you might be allowed to go after them for ALL the rent they owe (for the whole year), but I'm not sure how you would do that or how tough it would be.

Yes, it is very important to protect yourself from fair housing lawsuits so you need to have documentation of all applicants so you can prove that you don't discriminate based on race, color, religion, etc.

this site is already proving to be a great resource.

Atlanta is a tough market.

You'll find more than enough posts on the topic.Fredericksburg is a tough market.

This being my first property, how long do you think I'll have to "prove myself" to the bank before I'll be able to finance #2?

Coop's are tough to sell and finance.