I wish the parties the best in moving past this issue we’ve identified…as I suggested, you should contact all the tenants and proceed with a new lease with those that are interested in doing so.My question to the forum:Has anyone ever ran into this before? 

As a hypothetical, let's say there's a syndication seeking capital....Total capitalization $30M, Equity raise $10M....clearly this falls within the boundaries of where a family office, private equity etc. check writer would become involved if the deal has merit.

The best part is that the debt will be reported to the credit reporting agencies and it will stay on the tenant's credit report for up to seven years.

Quote from @Yixiong Pan: It's possible, but it's also possible that the tenant will destroy your house and you'll never know.Managing investment property involves more than collecting rent.

One thing you might want to consider is partnering with microsoft and adding a third party app to their office 365 suite of products as they have an accounting arm and many other applications already in play that you could add on just for property management and it would work on their system to integrate everything.

The area has a lot of rentals so getting one should be pretty easy as is a handy person to handle quick repairs.IMHO the toughest part is done.

When it comes to W2 employees, it involves HR, expectations, paying them whether they have enough leads or projects to fill their day or not, managing higher expectations (W2 employees seem to be much more "picky"), and overall they are just more expensive.

Mesquite is strict on code enforcement not allowing more than 4 unrelated parties to rent the same unit. 

If an inspector finds the outlets aren’t up to code, the parties might negotiate a credit from the seller to address the issue, with any further repairs being the buyer’s responsibility.

Atlanta area "pastors" involved in real estate... that's a whole different story in ethics.