We invested a fair amount of money in marketing so I'm struggling with letting it go.

I looked up rent-o-meter.com (I think it's fairly accurate) and it said that houses in a 5-mile radius, same number of bedrooms had rented, on average, for $2060, so my number seems to be right on. 

Hi @Hans Cooke, California has always taken the position that if you sell and 1031 Exchange California real property for out-of-state real property it will still be tax-deferred but they want their "fair share" if you should sell and cash out (pay the taxes) in the future.  

Just doesn’t seem fair when he has another apartment and are just refusing to move their stuff out.

That is a fair amount of money to risk on a deal that may fall apart in the due diligence phase. i am glad to help, but you are in a deal way above my head. you need the help of a good attorney.

To be fair, the tenant wasn't the sharpest crayon overall, so clearly not the propane's fault.

They do this to ensure the 2nd mortgage has an incentive to cooperate.

ONE, it would be my first REI deal, TWO, analysis paralysis, THREE, its a fairly rural community,FOUR, no comparable properties anywhere around to get a property value.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff. 6.

It is fairly standard in our areas so most people don't bat an eye.