However, you can make changes as long as all parties agree.If the tenant agrees to removing certain clauses, or starting with a new lease, then you can move forward.

@Kyle Knudsen  I agree with Denver, with a 1031 you must move all the proceeds to a new "like kind" property. 

I agree with this Jonathan.

I totally agree that most agents are horrible negotiators.

I'd likely just agree to break the lease with a couple months of rent as a penalty rather than force these people to continue being tenants in my property....you never know what will happen to the condition of the property.

If there is an existing lender not agreeing in writing to accept payments from the LPO buyer, then you are in violation of the statute -- and it is a very toothy statute -- vs the seller/landlord side only thoughWe are getting ready to get one in place because the seller is demanding it and my client is the protected buyer.Yes -- you must vet your sub to buyers -- some should not be anywhere near a wrap transaction.Stay safe out thereAlan

Assuming your property is in Utah (like your profile indicates), here's the state law from a basic internet search:In Utah, a tenant who abandons a rental property without notice is liable for the lesser of the following: The rent remaining on the leaseThe rent plus the difference between the fair rental value and the agreed-upon rentThe cost to restore the property to its original conditionThe landlord can also remove the tenant's belongings and sell them if the tenant doesn't claim them within a reasonable time.

Quote from @Patrick Paige: @Allen Duan Has a great point that I fully agree with (look at from tenant's perspective).

Chalk these losses up to tuition.I agree that we are not likely to see any return of principal.

I think you can through BP or through the aforementioned REI meet ups more than likely.i am inclined to agree with a previous poster in that i'm not sure driving for dollars will necessarily yield you what you are looking for.Network with as many other MF investors as possible in your area and find an agent that knows the market and can at the very least set you up on an MLS search for your criteria.Coupled with BP's deal analysis calculator you can then begin underwriting properties you receive from the MLS with your agent or on your own to better understand your market and tailor your expectations moving forward.I'm an investor focused agent that focuses on MF and while we are not in the same market if you have any questions about moving forward with MF LTRs i'd love to see how i could help.