Not to scare you, but it could present financial ruin for you if ignored or handled incorrectly.Check out trulia for crime stats. 

BK while an option will ruin you for many years.your now learning why folks caution one on too much leverage.. your undercapitalized and too much leverage bad combo for owning property.. fix that. 

The downtown area of the city is flooded with homeless addicts, panhandling, breaking into cars, ruining the city for its responsible, tax-paying inhabitants.  

(They spent most of their retirement money paying for son in law's cancer treatment.) 

That kind of ruined this great post.  

All my repairs and expenses came under the insurance deductable which was 5% of property value, and they don't cover the outside like sheds, fences, mail boxes that were tossed across the streets, landscape that were completely ruined by uprooted trees. 

I'm planning to keep up with this to make sure the price of the permit will not ruin my cash flow.

At least I did that with my wife's fathers house who was going through cancer and he put the house in his brothers name and that's how I got the house.

Please don't ruin it for others; we don't want the benefit to go away! 

Typically they seem to just get them when owners disappear and let the property fall into ruin.