Communicate: Depending on your options, consider having a face-to-face conversation with your tenants.

So one must have the LEGITIMACY that invites/empowers it being a conversation vs a "NO, not interested".

Have you dealt with a similar situation where you needed to have that difficult conversation with the mortgage company?

I don’t just blurt this out, I wait until we’ve developed some rapport and then work it into the conversation.

Why wouldn’t you contact the tenant first and have a conversation about the situation to find out if there is a way to salvage the tenancy?

First - Have a conversation with your CPA to see if will be beneficial. it appears that you are unsure based on the phrase "hoping it would benefit us".

Haha, that's why conversations like the ones here are awesome. 

Tim Cook I am looking at a large conversion deal in my area.

We don't even contact our owners unless we have verified that there is a mold problem.Before contacting a lawyer I would want to gather all of the information from the PM - maintenance requests, lawyer info, photos, inspection report, conversations with the tenant, etc.

Conversely if I start building relationships with other investors who might have funds available (but not the time to look for deals), what value do I provide if I do not already have a ready stream of possible deals.