And when I inevitably would have to say no, the friendship ended and wasn't pretty, no matter how calmly and friendly I explained things. 

Geez, some people need to calm down.

You'll need to do your homework as to what are the vacant rentals asking for rent, and what are the filled units receiving in rent.It's all about the deal--if you get a good enough price and terms to offer a better product at a slightly lower price (rent) you'll be fine.Good luck.PS:  Do the homework--it will answer many of your questions and calm the first-deal jitters.

It is during the MOVING PHASE, that you must be cool, have all your wits about you and be prepared, yet still be cordial so as not to enraged the monster that seems to be lurking in your Tenant during the MOVING PHASE (as there is NO ANTIDOTE to calm the savage beast once it takes form).

I'm hopeful that things will calm down, but am keeping my options open in case they don't.

It's emotional and extremely disruptive for them, so I found it best to show them they're getting a good deal in a bad situation, and they always calmed down and it was over with soon.I'd also require renter's insurance. 

We don't consider the asset management fee an expense and only accept it after the preferred return hurdle is met.We use a waterfall structure where 100% of the distributable cash is given to the investor first. 

I just suggest you calmly and respectfully go see him and tell him that he knows you're going to have to kick him out and ask him how do we do this in a way that leaves my place un-trashed and he gets his deposit back?  

@Matt Higgins calm down it is a mouse, not a mass murderer, you have done more than enough just give it time, the mouse may have left or eaten some of the poison and died somewhere you'll never find it, or it was eaten by an owl, or cat or whatever.

He squawked a bit but calmed down when I showed him that his rent didn’t really increase.