But the seller might be a little upset when they find out you are making 40k off their house, so I'd advise a double close. 

You sound like the 1% of the people who get my mail and are some how upset and threatened they got a letter or post card from me.

Yes that's a possibility Victor. I

And also, if it's not, would it be rude of me to ask that something be put in the contract that if something happens to Bobby and me where lJ did not pay for a couple of months after that,[ being too upset to think straight] that there is a certain amount of time for one of his siblings to help him catch -up rather than have the house yanked away.

They will be happy with their small victory and will feel like they owe it to you to pay happily each month!

Worst case it would be a moral victory for me to put a ding on their credit even if I don't get any cash.

Victorious, My tenant screening has gotten much better since I posted this 5 years ago.

A small victory for the investor today.

Amend lease to reflect the new property conditions and the new rent and have them sign and date.3) Request politely that they not use profanity, say you hear that they are upset by the change but unfortunately your hands are tied, and in response to any threats calmly assure them that "Pay rent or quit notice" will be served following the lease guidelines if they do not pay rent.Not legal advice, but that is how I would handle.I would also probably look at selling this property down the road unless the cash flow is really good.

Also know as an acceleration clause.A little history lesson…In the old days when banks loaned money and took back a 30-year mortgage that's exactly what you got.It didn’t matter if you sold the property to someone else that loan stuck with the property for 30 years and could be taken over and paid by anyone.Well, in the early 70's banks, lenders, state governments and other interested parties were so upset that they were getting stuck with low interest rates, missing out on taxes, assumption and other sale fees, that lenders started adding due on sale acceleration clause to their contracts.As you can imagine, a lot of borrowers thought this was unfair and brought suit against banks and lenders.Unfortunately around 1979 the United States Supreme Court found in favor of the banks, and today the due on sale -acceleration clause (usually paragraph 17) is found in most if not all conventional mortgages.For years now buyers and sellers have been trying various ways to get around the problem.