I hold position of safety on fire ground, and although we are talking two extremely different things, I have Learned to appreciate "Risk vs Benefits "In this partnership we balance each other , in all aspects.

The wave is moving that way, and I'm positioning myself for the crash that will happen (in my opinion) in the next few years.

I believe we have all the paper work (5 day notice, original lease, updated ledger showing the non payment rent etc).

As doomsday scenarios go, this isn’t terrible.Now switch to my mobile home park and consider the same factors.Rent - low rent payers ($200 per lot for 15 lots),Credit – my residents probably have mediocre credit at best,Building – I own nothing here, as the residents own their mobile homes.Site Improvements – I own nothing here, as there really are no site improvements to speak of,Zoning – zoned for the parkReal Estate - an otherwise poorly located piece of ground jammed up against an airport.The seller/owner created the park 15 years ago and claims to have never had a vacancy, so if my doomsday scenario hits and all the trailers are wiped out by a tornado, I’m left with a poorly positioned piece of ground which I suppose I would eventually repopulate with mobile homes.So why consider this at all?

I know I have to give the tenants 60-days notice to vacate but if they do not leave do I have to go through a costly court process?  

I could bring a strong positive presence to your business and help ease some of the workload.

However I have been in the same position before looking for a builder.

I found myself in a similar position during college.

Tenants won't notice a the difference, so you are funding the effort.  

Our server delivers notice to "all other occupants known and unknown in possession of premises" while on site.I find it very unlikely a school is requiring the dependents to be on the lease... but we have had schools contact us to see if students lived at the claimed address.