I initially negotiated the terms of the deal through a Letter of Intent and then developed and executed a Purchase Agreement.

Then if at the end of whatever time you have agreed upon, if the tenant still has not left, you can get the Execution to move them out.There are programs out there that may assist the low income tenant with first last and security as well as some moving expenses at a new apartment.

Highly recommend you have stripe with rental agreement where you collect identification, selfie, credit card info, and e-signature.

And thankfully, by the time I needed to execute on those options and actually complete the purchase of the leased properties, I had developed some private lender relationships that allowed me to complete those 3 transactions and several more thereafter.

Quote from @Greg Scott: Quote from @Derrick E.: I always play it by ear.

E-mail with details has been sent your way.Also, thank you @Jonathan Greene for helping to point this to the right person for assistance.

Problem is only "RE pros" get to do it.There are 3 income classifications in the US - Active, Portfolio, and PassiveActive income is income derived from your job, or normal trade or business.Portfolio income is derived from bank instruments - stocks, bonds, etc.Passive income is income earned from investments.Active losses can wipe out both passive and portfolio income, but it doesn't work the other way around.Portfolio (capital) losses are limited to $3,000 annually.Passive losses can only be offset by passive gains.Real estate rental income by its nature is deemed passive per IRC Sec 469One way to get around it is to become a pro - spend more than 750 hours or 1/2 your time in real estate.But most folks aren't real estate pros.

For more visibility, consider cannabis trade shows and industry events.

This quick profit flip highlighted our expertise in identifying high-potential properties and executing rapid sales for substantial gains in Pleasant Hill’s thriving market.

Once you move forward with someone you have vetted and feel comfortable with co-living, you can use the message templates to inform your tenant, upload your lease for e-signing, and collect a deposit and rent.