Perseverance is key....the whole keep a positive mind thinking of napolean hill is powerful...but you have to exercise common sense....that and creating a team to exploit a niche you know extremely well....become an expert in a specific area and gold nuggets will eventually come your way.

Why should I have to “help” them if they are month to month and I am simply exercising my right not to continue the Lease? 

I mentioned a social security number... which would be used in addition to ID to confirm identity and determine creditworthiness, the whole point of this exercise.

Undoubtedly "But my market is too expensive" .Having been a boat captain for 10 years (exercising hierarchy)  operating a 10% down 120% ROI rental (Crestline CA) and having a best friend with 40 units in Long Beach CA, you cannot be someones friend (ie "cool landlords" and be cash neutral.

The tax code is built to favor business, one simply needs a good accounting firm whom knows how to exercise this.

To the best of my knowledge, notes on mortgages are valid until satisfied.Regarding your last sentence, the instrument that secures the repayment obligation with an interest in real property has a definite period within which it must be exercised in relation to the maturity date of the mortgage/DoT.

In September of last year I got the property back by exercising a quit-claim deed as the buyers stopped making payments.

Learned that lesson though, we'll exercise way more control this time, and limit customization.

Now run the same exercise for the principal paydown and factor in some cash flow / tax benefits on the side.You cannot get returns anywhere near this in the stock market or any other alternative with such certainty and low volatility.

I have found that if you do a good job up front ,  the seller is more likely to finance your purchase when you exercise your opinion .