This allows you to react quickly if things go sideways with the tenant.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

While I am impressed with your enthusiasm, the reality of getting a project done and for a proper return on investment, whatever your investors may be looking for, is difficult.

Make sure that your LLC structure is solid, with proper insurance coverage in place, to protect your personal assets from any potential issues related to the rehab or the property itself.

I will treat them properly no matter how they behave because how they behave doesn't upset me.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Looks like Oregon has strict laws about notice and cause for termination, so you may want an attorney to advise you so you’re following proper procedures.

You both either got greedy or didn't do a proper deal analysis.2. 

The key is understanding how to properly screen and also how to manage.

With proper communication and giving the current tenants ample notice, I think you would be giving them plenty of time for them to make a decision that is best for them.