Interesting to hear that people aren’t familiar with this as it is very common.

If they don't pay issue a 10 day pay or quit notice and then if they don't pay within 10 days start the eviction.

Structure the agreement using tenants-in-common or joint tenancy, outline a co-ownership agreement, and consider financing options like co-signing the mortgage.

Quote from @Marc Shin: First, you should let us know what state/city you live in because the rules sometimes change, and we can't give you solid advice without knowing where this investment is.Generally, you can give them a 30-day notice.

Also those levels of requirements are more common on larger commercial loans, I’m hoping to start in the residential space 4 units or less. 

@David GeorgesonYour PM is not responsible for this and I can pretty much guarantee you their agreement will state this.Unfortunately you as the homeowner are at the end responsible and I would notify your insurance company to put them on notice to file a claim depending on the damage.

I received a notice from my rental property insurance carrier that they will not renew my insurance policy covering my rental unit.

The next line item down under terms states: "Any notice to terminate this tenancy must comply with the applicable legislation of the Commonwealth of Pennsylvania (the "Act").

I don’t know your particulars but schedule e and no substantial services is common with self managers and very tax efficient.

Some households receive multiple filings, and not all filings result in evictions.That ranks Phoenix ahead of other big Sunbelt cities that in recent years have also seen an elevated number of eviction notices, including Houston and Las Vegas.