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If you currently have unbearable debts and thinking of wipe it off from your statement by declaring bankruptcy; Just on-hold your decision for a while, there may be other options available. Try to improve your situation before you investigate the bankruptcy option. No matter which way you go, evaluate the 5 steps below to see if you could avoid taking that drastic step. list down all the fixed expenses such as power, phone, insurance, food, etc.

There are several other reasons why single-family homes are better investments. The tenants pay the utilities and maintenance. The appreciation is better than on other types of dwellings, in other words, you are not tied into rental market like multi-family dwellings. The cash flow is more stable because you have longer leases. A house is easier to sell and easier to finance and easier to rent.
The types of residents that will rent their home are quite varied: Newly married couples, a newly acquired job brings in a new family or a promotion to a new area. It is wise to understand the area where you decide to purchase and it is even wiser to understand the quality of the renters you rent to. Bankruptcy or foreclosure victims need places to live, too, as well as those families whose credit is stretched to the breaking point.