Goal is to buy and hold long term in good neighborhoods that attract good quality tenants .Can someone recommend cities across US where it is possible to cashflow or breakeven  on condo investments in grade A neighborhoods? 

Also, they will be obligated to pay the deferred balance if they terminate the lease early.

3) As a final nail in the coffin, "waiting for bank to accept and previous buyer to terminate."

This discussion is off the topic of REI, but DGI is pretty cool, actually, and I find it makes a good bit of sense to landlords since the dividends are akin to rental cash flow, and there are several other parallels as well ... my heart is still with my local rentals, but it is a decent place to diversify IMO and park extra money assuming you are ok with potentially parking it longer term in case a bear market hits.

I've heard a lot of strong opinions on "terminate immediately and start fresh."

I've heard a lot of strong opinions on "terminate immediately and start fresh."

If the tenants keep complaining, I would offer the tenant an option to terminate the lease mutually early without penalty.

Yeah, so as you're inheriting the tenants, it's good in the sense that you have tenants in place paying rent, but also good that it's short term in case you quickly realize they're not the type of tenants you want living there. 

Instead of giving a 60 day notice or evicting I want to have my lawyer write up something myself and the tenant to sign off on that would state that on Jan 31st all items left at property would become mine to do whatever I want to do with it and the lease is terminated without eviction needed since tenant does not live at property whatsoever.

I am looking to Terminate one of the leases in 30 days and move into the unit.