I’d give those tenants the “happy clause” (“you don’t seem happy here so why don’t you leave”), or simply give them the non-renewal notice and get them out of there ASAP.

You mention ARV, are you also seeking Rehab funds or are you simply referencing what it could be worth after you acquire and rehab in the future?

Or, you can simply sell it while the sole owner is alive which makes the transition smoother.

You simply have to close your sale before closing your purchase.Your thoughts on only purchasing a couple of properties and then doing a cash out refi is also very smart. 

@Nicholas Duffus - You simply use non-conventional loans, such as commercial loans or DSCR loans that lend based on the cash flow of the property and not your personal DTI. 

I had a great pit but I wouldn’t rent to someone with 1 simply because my insurance company would not allow these breeds.

To put it simply, rental expenses on paper can be used to offset your rental income.

Simply changing a name does not change the underlying fundamentals of your situation and playing name games doesn't circumvent guidelines. 

that is curious my only thought is the UPB is actually higher given default rates etc.. or the theory for folks is simply loan to own.equity is so high you take on the risk of low return for the chance to own the asset through DIL  as we know if there is a lot of equity more than likely someone will bid it at courthouse steps and you wont acquire it anyway.we have bought notes for the sole purpose to own the asset mostly properties that could be developed that most note investor simply looking at the notes and zillow etc would not know the HBU of the asset..

You can contact the tenancy board and simply as if you have a month to month lease and want to end it, what do you need to do?