Eventually that end will probably come, and if they move out the investor has the same issue.

So long as she pays $5, she would not be able to eventually try to claim ownership of the land where her home is? 

One observation I would make is that being at the highest end of the rental price range in Georgetown, they might be the most impacted when there is an eventual downturn in the market. 

"A one-man 24/7" expectation is unreasonable and will eventually cause a person a multitude of problems.I hope this helps.

The previous owners had a problematic tenant in the first floor who was not paying the rent and ended up opening up several false complaints with the city and eventually left the apartment when the previous owners started eviction process. 

I eventually want to be in control of my day... 

With a more recent partnership, I found a property I wanted to buy and I created a new LLC with a partner who funded the deal (99%) - with the expectation that we will eventually BRRRR this into a few more properties also. 

Yes, this goes well beyond the cost of a security deposit, and it's far from being "normal wear and tear", but things get squirrelly if you have to go to court, so prepare for that eventuality!

It sounds like you might not know everything to watch out for and have the time so I'd post and mail the 60 day notice not later than March 31 which will cover you for all eventualities. 

We'd come back and fix it back up again and then eventually sell it as it will not be our forever home.The question is... if we move back into it, how long will we need to live in it to re-qualify for the tax exclusion?