If you have owned the rentals for a couple of years you can always do a 1031 exchange and avoid taxes by putting the sale proceeds into another investment home.

But you need to know your current cash (including potential refi/HELOC proceeds) before you can even begin.I would also make some calls to a few lenders about what their terms are on loans.  

Assuming you are not subject to rent control, file the Failure to Pay Rent form and start eviction proceedings.

(A year and a half ago.)Ok, how would you like to proceed?

Once tenants have viewed the property I go in order of the first qualified tenant that says they want to proceed to the background check.

"Trust, but verify" when so much is on the line.What To Do:Verify that everything is proceeding according to plan.Google Maps makes the distance from Granite City, CA to Colusa County, Ca (no specific location) as around 87 miles, hour and a half or so travel time.For those reading to learn, I would think the take-aways include that your personal availability to supervise and monitor such a project should probably be part of the decision process of whether to proceed with the deal.My $0.02 ...

To date, they've been sending me rent proceeds right to my personal bank account, in my personal name.

Bank mortgage with 25% down (probably could have done 20% down, but we had 1031 proceeds to put to work anyway between this and another property.

Anyways, we felt like what they had to offer for management seemed fair and we still wanted to proceed to use them even though we did not have a good experience with Michael Azzam. 

I imagined I needed to generate some sort of statement for him to write-off the interest on the bridge loan and figured I probably needed a statement form to reflect the proceeds from the joint venture flip.