Ideally, I'd like to be able to change the rules moving forward right now since we have a vacant unit that we are renovating, but I don't want to remove an otherwise good and paying tenant to do so before they are ready to leave.I had wondered about what @Johann Jells had mentioned, but I wasn't able to find anything in our Landlord/Tenant laws to either confirm or deny it.  

I bought a foreclosure in Florissant with a 203k loan aka an FHA construction loan where you only have to put 3.5% down and they will fund the renovation as long as it's done by a licensed contractor.  

Keep in mind if the description/pictures show the home needed a lot of work, then the price will be lower than normal, and alternatively, if the description/pictures show the home was completely renovated, then the price would be on the upper end.

I was going to use the VA Renovation Loan for this situation, but that program is currently suspended. 

I could also easily find old relationships to leverage in the RE community there.Cons- A Higher rate of vacancy and across the country from me now.Market 2Pros- A larger city with colleges, growing RE market, and fairly stable economyMy wife is from here so she would know the location, crime, etc.

I want the tenants to move out solely because the place needs a major renovation and subsequent rental price increase.

I've completed renovations and am thinking I can do a cash-out refi, take out the private lender and access some equity for another investment.

@Chris Stephens I'm sorry I am a bit of a beginner but can you explain what you mean in this equation, I've read about it before in separate posts about wholesaling but never understood it because wouldn't you need to renovate the house which is considered flipping not wholesaling?

There are a number of successful people like Eric Moeller as @Valerie Rogers mentioned who have not only "released" properties, but are creating master lease agreements on a larger scale. 

The issue is that in those areas there is not many multifamily properties when compared to a larger city like Torrington or Winsted.