The law requires you to act reasonably, the absence of which is just...negligence.The civil justice system tries to be fair, but from a practical standpoint, but when it comes to real estate investors/landlords v. consumers cases, the REI starts out in a hole. 

For long time landlords with long term tenants, there's a tendency not to increase rents consistently, especially in areas where the rents had risen sharply.

Or is common practice to allow a lease break if it comes to that?

Kathryn -  obtaining a loan through a lender  will normally require  2 years of  history of  consistent  positive income …...so if the plan is to use this  method of  financing  - keeping  the job is beneficial …..if you plan to use the more creative methods of  financing deals - then this issue isn't quite as important  the other lender issue to be aware of is that many lenders  have a limit on the  #s of properties  with financing an applicant  has in their name …...some cap at  7  ...some cap at  10 ...some may not any cap

Great opportunity to practice some creative financing techniques and acquire more real estate:1031's are great - I've done several ---- put what I am reading - if you are only paying $6,000 in taxes, that's nothing!

You also have to do it consistently, can't just put out one bandit sign and expect to close 10 deals in the next month... 

Since speaking with Ralph, Matt, and Moneyman, my irrational exuberance has dwindled, and my friends and I have all agreed that we need to practice on simple properties first.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

And second, assuming the answer to the first question is yes, can you run your business there from a practical perspective? 

I’ve recently looked into foreign qualification for LLC to practice our business in another state; would that help us get qualified?