But they are otherwise good tenants.)You did not mention a grace period for this tenant - as I presume would be outlined in your lease agreement.

@Edward Kuk - Here is part of the code13-160-050 Minimum number of exitsThere shall be not less than two exits from every building, floor, space or room, except that one exit may be permitted from any room or space under the conditions outlined in subsection (a) through (b) of this section; and one exit may be permitted from a floor under the conditions outlined in subsections (c) through (o) of this section.d.

I have been looking for an outline on how to do a process such as BRRRR with a private lenders money and cannot find one.

@Dan Valicevic I took an approach similar to the one @Joe Splitrock just outlined (great advice, Joe).

I could be wrong, but I honestly think the majority of those who post such questions on the forums wouldn't even have the motivation or patience to grab a financial glossary to understand the terms you just just used (NOI, DSCR, FCF, expense ratio etc) let alone develop a spreadsheet and plan outlining their financial goals with realistic numbers and timelines. 

Everything is done by official notice as outlined in your regulations.

Make sure that your due dilligence outlines all potential risks, and that your management systems focus on managing those risks and ensuring the quickest re-coop of your investment and a return.   

Ask if there are any any additional fees for maintenance, advertising, evictions, etc... and make sure they are outlined in the agreement.

Go above and beyond to outline every action to be taken, the goals, the methods of transferring properties, the state the properties will be transferred in, etc.

., the taxpayer is considered to have materially participated in an activity by meeting one of the seven tests (or three tests for a limited partner interest) outlined in section.