But it is outdated.

It's not in horrible shape, but it's old and outdated and been vacant for several years leading to a less than attractive home. 

The property I got is in the medical center, a $260k, 4 bed, 2.5 bath house, newly replaced roof, 20 year old AC, 20 year old water heater, all old appliances basically, high water pressure, and yeah overall outdated house that needed some touchups.

House was in bad shape with outdated carpeting, wallpaper etc....

seller approached my partner wanting to sell an outdated car repair shop. we negotiated the deal from $170,000 to $120,000 being as we needed to put in some serious remodeling.

No more guesswork or working with outdated numbers.

Legal requirements for giving notice include checking local and state laws, providing written notice, clear communication, specifying the move-out date, offering assistance, offering more than 30 days notice as a goodwill gesture, and providing 45-60 days notice for a smooth transition, reducing stress and potential conflict.Good luck!

But I don't know how outdated or still useful most of his insights are. 

Write up a simple 30-day notice stating that you will not be renewing their lease and including their move out dates.

It is still the cheaper route then going out and buying a house that is probably slightly outdated and not set up how I would like it.