Tenants almost never fulfill the entire term, the Landlord gets lazy with keeping an eye on things, rents rarely keep up with the market, etc.I do leases one year at a time.

And thanks for sharing your experience—it's definitely a wakeup call for others eyeing similar moves.Nothing sneaky about it.

Keep an eye out for that post.

We also identified that we do not have an eye for design and theme and it is hard for us to make something of a blank canvas.

Second set of eyes won’t hurt. 

What I mean by that is keeping an eye out for distressed properties or deals you all can buy without feeling the need to dive into another avenue to fund.

I'm going into my 7th year and I have only had 2 evictions at this point - but with both of them my maintenance team checks on the unit every 2.5 weeks until the tenant has completely moved out so that we are keeping an eye on the property and making repairs as needed for a QUICK turn over for new tenant (goal is a less than a 24 hour turn over period)!

Therefore, it is not mortgage fraud.What the transfer of ownership of the subject property does is violate one of the covenants of the mortgage document.  

Look at your price, updates to the property, and marketing with the eye of a prospective tenant.

It does change things up, and we need to keep an eye on legislation.