Basically the textbook stated that, there is a new law in New Jersey, that if you try to sell a co-op, for the same amount or less then your investment, but aren’t successful after 4+ months on the market, then you can rent it out, regardless of any lease bylaws the board of that co-op has for renting. 

A tenant seems to have abandoned a SFR 14 days before their lease ends. 

They want a six month lease, which will put it out to October.

How does your PM handle a tenant who breaks a lease early and in accordance of the lease, now loses the deposit he/she made who leaves the house dirty, broken blinds, cracked window, etc So there are issues that normally would come out of the deposit to fix?

I have a contract on this property ( Buy - Rent - Hold) - FloridaTownhouse - 2 beds 3 baths ( great location from rental perspective)1,320 sqftHOA 225Taxes - 2900CASH PURCHASEExisting Tenant Rent - 1625 (Market rent 1675 -1700)Since tenant has been there for long, no plans to increase the rent until October (when the lease ends).Thank youManniNJ

Even if you're planning on doing repairs, showings, leases, and all that jazz yourself, deployments are a thing and you'll want to have access to folks who can take care of things while you're away if they pop up. 

What does your lease say about running a business from the rented space?

@Thomas S.I will only speak for Texas but I assume other states are similar The new owner assumes the position of landlord in the lease at closing If the tenant is in default at closing, they are still in default after closing.

@Stone Teran  Here are a few ideas for your consideration (from a member of your target audience - an "Old Dawg"):Introduce a referral program for your existing tenants where they get a free months rent, restaurant gift cards, etc. for referred tenants who sign a one-year lease. 

Currently renting for 1 unit for $800 and the 2nd unit for $900, tenants pay all utilities except water with no leases in place.