These 1-4 units of course have fannie/freddie loans available at 4.xx interest rates, 30 yr am, 30 yr term. 

If so I would send them notice of a substantial rent increase and let them make the decision to move on their own.

In the contract I would ask for 30 day notice in writing either way to end.  

My office has the Fannie Mae and VA foreclosure accounts so I regularly deal with flippable homes. 

In addition, I'm an opportunistic investor in multifamily's when I notice the collective market is confused (ie- when a big corporation is adding thousands of jobs to a town yet firesale prices exist on all the RE).

He said he wants to move out (6 months left on lease yet) So I told him I would serve him a 14 day notice to vacate, and if he was out by then, I wouldn't file an eviction and we could call it a wash.I'm not concerned about missing 1 months rent, especially since the kid looked like a deadbeat anyways.

Noticed I said THEM and not him/her.

Send him written notice demanding termination.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.You also want to look at whether a pass-through entity helps your bottom line and your taxes.

You can only raise rent once per year and if the amount is over 10% then you need 60 days notice.