But in reality a mortgage at 50% that’s recourse and cross collateral will in all probability not result in anything different as the chances of the lender having to look beyond the subject property are fairly remote. 

Keep this in mind when structuring your deals to communicate to the seller how much cash they can expect in their pocket at closing. 

You followed the lease and the law, and you've treated the tenant fairly.Give them the final statement and shut off all communication.

@Eric Fichera Buy A/B  located properties, keep up with all local permitting & licensing, use a well drafted and fair lease, don’t unreasonably withhold deposits and be a responsive landlord or hire a responsive PM and you won’t have anything to worry about.

(in fairness, this is not super common).  

Communication is HUGE. - Being straightforward and honest is extremely helpful when managing tenants.

5yr ust is 380bps the spread seems more than fair I like the 5yr lock but just personal preference 

Yes I have communicated to the tenant about the scenario and started collecting the rent directly.

They are at 7 and 9 years so far.)My PM pays for themselves in too many ways…I don’t face any fair housing violations because I’m not keeping up on monthly changes local, state and federalThey take care of advertising, showing, rent collection, charging late fees.

It is unfortunate that you are in this position and it sounds like you have had very little to no communication from your representation or lender.