As I mentioned in my previous letter, I look forward to continuing to maintain your address with the same pride and quality that <prev owner> has taken in it over the past 19 years.We are hereby cancelling your existing month-to-month tenancy effective <date with proper notice>.

Do you have to do new development or can someone just acquire a property there and hold it? 

If not, then why not - is it on them, or is it because of the owner of the property not budgeting properly?

Thanks all for the advices.About why flip instead of hold, my realtor reasoning is that the pool adds to the liability when renting, and needs to be maintained properly, that's an extra cost, and given the rental rates in the area and the potential resale value, it seems like renting wouldn't provide much so much cashflow to make sense, it would barely break even or even have negative cashflow.My wife is of the same opinion, while for me renting even if it doesn't provide that much cashflow, makes more sense due the extra taxes when flipping.

Any books you can recommend on the topic of Business Development? 

Partner with  a developer or call around to tenant rep brokers for a highest and best use report for the land.

Don't waste your time trying to develop and setup your own. 

Develop networks. 

The owner before me had collected first and last month's rent, AND a performance bond that would be refunded after proper performance of the lease. 

I'd rather them be managed properly then saving some money in cash flow.Thank you.