Acquired a double lot for $112k after resolving title issues and paid $360k for construction, creating a 6-bed, 5-bath house designed for co-living or multi-gen use.

If you choose not to show up, he would almost certainly be awarded a judgement.Of course, you could choose not to pay the judgement, but then he can send it to a collections agency and your credit score will be trashed.I don't see a scenario here where you get through this cleanly.  

We specialize in single family homes, condos, townhouses, and select small multi family homes.

Should you choose not to renew your current lease you will only have to pay the difference of the last month’s rent you originally paid. 1750-1495= $255.Current Rent: $1,750Increase: $119New Rent Rate: $1,869This increase takes effect the 1st day of November, 2023.We’ve been happy with you as a tenant and hope you continue to stay with us for a long time.

Owners who choose this option would likely be those who:1.

I started with multifamily but price expectations have gotten out of control.Just refinanced my multi-tenant retail property and pulled out much more cash than I put in. 

The numbers could make sense if you do STR, but it's still tough because the pricing for multis is high and the long-term rental return isn't that great.

Or find a property that is under-utilized or has below market rents.Otherwise, you could also do the OPPOSITE of the great advice from @Jonathan Greene and buy a property with multi-bed units or live in the larger unit and rent out the smaller unit - while getting a roommate(s).

Here's how it works:If their deposit is $1,500, they can either choose to pay the SD in full or elect to take out what is essentially a loan with Rhino Insurance and only pay $25 per month ($20 goes to Rhino and the remaining $5 goes to the PM company) toward their $1,500 SD.

Voluntary Compliance: A reporting company can still voluntarily comply with the law if they so choose.