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The biggest thing is communication, keep it touch with your tenant, make sure you emphasize that you want them happy with the property and that you need to know right away of any issues with the property.  

Also, with it currently being a rental, the only bank that I know that currently does HELOCs on rentals is TD Bank. 

When you figure out money flow, count all costs, and know the laws for renters and owners.

As far as I know, there are no plans to build on either lot any time soon.At the start of the renovation, we replaced the roof.

On the one hand, I know they are all anxious about what the new terms will be - perhaps I should tell them ASAP (I move in at the end of this month and have a lease/occupancy agreement with the owner until then).

But knowing I have to pay a lawyer anyway, I can just work with them directly if needed.

Do you know of an alternative or a way to lock down your properties from changes?

I plan to evict them however wanted to know if anyone knows of any landlord programs or resources to assist with repair costs, currently the housing authority will not pay for any repairs.

How low will it go, no one really knows, but I agree with predictions of 20-25%.