@Jennifer Dixon I have recently attended two brief seminars on the new tax law.

I would call the tenant and let them know it is strictly prohibited and if it is not taken down immediately I would file notice to vacate.

If laws change, if Airbnb dies, if you are just over STR... what would this property do as a LTR, what’s the potential resale value, what can you walk away with if you had to change your business model.

Hey Aaron, Depending on your local laws, you may be able to market it with an agent while also trying to sell it by yourself. 

Your state and fed law has laws on when/how you can foreclose.

How is living in the house according to the prescriptive law, fixing it up, selling it and making some capital gains manipulation?

This sounds like a tenant that would be good to get rid of.I am not aware of the laws surrounding mailbox keys.

With a month-to-month rental agreement, the tenant is notrequired to stay for any length of time, but proper notice (as defined by state-law) must be given before they move out.It might seem obvious to use a term lease when renting to a tenant, but there is one major disadvantage to doing this: The landlord is also locked in to the lease.

As long as everything is transparent and in violation of his licensing or any laws, I don't really see an issue here.

My approach when taking over inherited tenants is strictly business.