Advice on JV and on buying a building with OLD tenants

[Alex Jamael]

Two things I am desperate for advice on! 

A) I just bought two 6 unit buildings in a part of Canada with medium strictness for tenanancy, impossible to evict tenants without cause, can’t put rent up without major renovations ( a coat of paint won’t do) and there is a tenant that has been there for 25 years , paying insanely low rent, and he called me asking when he should leave as I just bought the building? Obviously I can’t just tell him he has to leave because I have to honor the lease he has signed but anyway I could talk to him? Not sure he could ever find a place for similar rent. 

B) I own my 20 units right now in a JV 50/50 and I do all the managing but when we get to a higher number of units I'll pay myself a salary and I pay myself for any extra other than collecting rent or small tasks right now. I just had one of the Investors that gave me a PML for the down payment of the two 6 units ask if I would be interested in doing a JV with him and again I would manage... does anyone have experience with buying a building JV and where I find the deal, I have the team and I will manage I wouldn't put any of the initial down payment down?? My JV partner would and I would be the operating partner and still be 50/50 on the deal? Any advice or ideas??

thanks everyone for reply’s, I know the Canadian rental rules aren’t familiar with everyone and this is a new province I just bought in so I am not that familiar I’m just seeing if I could sit down with this guy and maybe offer him some cash to leave ?