Even more telling is if they weren't evicted during that time - IE they had a bad financial collapse but still made a way to get the rent paid.Equally, medical bills are a common culprit that doesn't really reflect a persons willingness to pay their debts. 

I have family in the area and travel out there at least a couple times a year.   

If it is medical problem, automobile accident or job loss and he has corrected the problem that is one thing and if he can document that, it's probably okay.

One of my businesses is delivering medical equipment to hospice patients. 

These are my results:Purchase Price: $336kDownPayment: $90k (including closing costs)Reno: $97kCarrying Cost: $11.5k (Not including missed rental income from huge delay or mortgage payments- but does include travel expenses, all utilities during reno time,insurance)4 units: rental income $5600

I’m in a smaller city so I’ve thought of traveling somewhere but not sure yet.

Although, for most multifamily properties, you want to have done as much work upfront and if the broker/seller has been clear about issues with the property/what is needs (in cases where you have to travel after it is under contract). 

Life happens and life doesn't always follow the rules set up for 401(k)s & IRA's such as medical, job loss, other "life events". 

I have a tenant that called me up and informed me that he will be going into a rehab facility for the next 6 months and would like to terminate his lease. There is another 8 months under contract. Any suggestions on h...

I was also considering using it for traveling nurses or something along those lines.