I buy value-add and they often have below market rents and so when their lease ends/if it has ended when I'm the new owner I put them on a month-to-month lease; I also don't raise to market right off the bat (personal choice).The reason for M2M is if they end up not being a good tenant I can give a 30-day notice or can offer them a new lease at a monthly rent that makes me endure their nonsense with a smile on my face. 

I knew myself and was willing to endure a risky first year where it was possible that even with no mortgages the expenses might exceed the rents, and I was prepared to cover that with my job income if necessary. 

Do you think your tenant should have to endure more than you?

In those places, it tends to make more financial sense to move into heavily shared housing, endure discomfort, and pay the minimum possible rent while saving up your money for your investments, especially if you find a way to live very near where you work in order to be able to minimize or eliminate transportation expenses, the second-largest expense of the American household.And then, there are most places, places not like the extremes in housing-cost cases that Steel Valley in Pennsylvania or Silicon Valley in California represent.

Having those types of tenants I have seen suck the life out of other landlords over time.I will take an easy 12% all day long versus a hard 16% return for a highly intensive asset.Sounds like for the next year you might have to endure having a job with this property until you can unload it.Do any of the surrounding property owners want it?

If in your state, its 10-20 years that's a long time endure the risk factor of bennies coming into the picture asking about grandpa's gold coins in the house (that never existed). 

. - Thank you for the story, and I'm so sorry you had to endure that kind of torment. 

Not only are you enduring extra cost now, but are exposing yourself to lower rents and lower resale in the future.

Their 3 kids have to endure it.

Oh well, Greg is right, this wil definitely help me to be a better Landlord in the future, and I hope to never make anyone go through anything like what I and my family had to endure with these people.Have a wonderful Saturday everyone!