Quote from @Tessa Tsui: Seeking advice from out of state landlords.

Being that your tenants are month to month does provide some relief for the new owner in terms of being less restricted on raising rent and/or replacing the tenants.

The property has been in excellent condition since it was built two years ago, and I’ve lived there myself without experiencing any similar issues.The lease is a standard Texas lease, and I’m seeking advice on how to approach this situation fairly.

Readers should seek professional advice.

Readers should seek professional advice.

Readers should seek professional advice.

Hey Kevin,I am an MTR investor and co-host in North Dallas, Texas.I have not done rent by the room--- but make sure you seek out advice from the rent by the room forums.

Hi Patrick,I am looking to identify hard money lenders and private money lenders, as well as seeking advice on how to begin funding the first few deals we take on (or if we should even use outside capital initially) My personal credit has been a 15 year battle (due to 2 divorces, multiple identity theft incidents, and most recently a breach of contract dispute with a creditor (they want me to keep paying them but not provide agreed upon services).

It may be best at this point to just seek the guidance of an attorney to see what your options are moving forward.   

Do I need to seek legal counsel?