I would exercise caution in buying in areas that are occupied mostly by tenants, as those usually are the areas that could lose a higher % of tenants and have the possibility of lowering rents.The last downturn has displaced a lot of people through a high amount of landlords going through foreclosure.

Paul provided much more than that from great RE / business tips to mindfulness exercises  .

Default statement saying any breach false information will give the tenant the right to terminate lease evict the tenant and regain property without any specific time just in general.Stating he will take legal action and he will have the right to perform actions stated in number three are nrights that he does has according to VRLTA because thats as specific as he explained it.on the lease therefore I don't think he made it clear that he is going to exercise his rights different to VRLTA so that is not an opt out even though he stated that his rights in the agreement are cummulative to the law.

I give up my right to require that the Lender do the following: to demand payment (called "presentment"); to notify me of nonpayment (called "notice of dishonor"); and to obtain an official certified statement showing nonpayment (called a "protest").The Lender may exercise any right under this Note, or under any law, even if Lender has delayed in exercising that right or has agreed in an earlier instance not to exercise that right.

A tactic that can be used when a property is in a different state than your LLC, though it is exercised more often with the Series LLC, is by placing the property into a land trust, then assigning the LLC as the beneficiary to your land trust.

Doing a thought exercise this morning, I realized that if I were to sell my rental, I could net ~$70k in profit, which would be taxable as a capital gain.

At any rate, I suggest exercising your due diligence and finding out more before actually tearing down the structure.

(http://www.totalgymdirect.com/total-gym-gts.php)The price would go up about $10,000 but nobody that I know of in real estate takes into consideration exercise and health.

@James Wise My concern wasn't if they could read it in the lease they wouldn't do it because - let's be honest - you shouldn't need to read a clause in a lease to exercise common sense. 

I want to run numbers on numerous properties before pulling the trigger, as an exercise, so I am better prepared when I am ready.