It's really difficult.Some attorneys will help with collections, but their results aren't great and you have to pay them for their time, whether they collect something or not.My suggestion is to turn this over to a collection agency.

If anyone has any thoughts or suggestions, it would be appreciated!

Simple math: the lower the loan, the higher percentage of closing.Those $1M loans are usually 1% closing costs, for example.

Any suggestions on structuring a deal here?

I will try to post how it goes, but November again is not optimal time to be placing a tenant.I suggest having leases end in late spring or early summer so placing tenant is at an optimal time.Good luck 

Is it always that simple?

As the current tenants been there for some times, deposits as well as the rents seems to be lower than what the market suggests.

I do intend on holding them for a long time, but again this limits my flexibility in the short-to-medium term.Does anyone have any thoughts/suggestions for me?

Forget trying to walk them through a simple repair over the phone, to avoid sending a ServiceTech and saving an owner money.

Thank you for any recommendations or suggestions.