Homepossible monthly PMI will eventually fall off whereas FHA PMI usually stays on the loan for the life of the loanIn some circumstances we have been able to offer a slightly higher rate and get rid of monthly PMI entirely!

Perpetual uneasiness is an adjective that comes to mind in a circumstance like that.

However, there may be something in the lease that says the property manager is allowed to terminate under certain circumstances.

The tenant can only withhold rent under certain circumstances and there is a process to follow.

It may, in some circumstances, be beneficial to remember that debt percentage for UBIT calculation is always connected to the prior 12 full months and, specifically, the month of those 12 with the highest debt percentage. 

Who can answer this type of questions for my specific circumstance? 

A few problems with the deal giveen my circumstances areA) I have access to minimal capital to invest in the deal (Max $25-30k I can get my hands on if needed)B) Credit isnt exactly squeaky clean and anyone who has a significantly higher score than me doesnt have the income to back it upC) Interested property has a broken water pipe making it a 203K or cash dealD) Asking price is high for a starter investor with no collateral and mimimum "skin money" to invest (asking price $499k)The comps in the area are going for anywheres from 700-850k so Im figuring even with some serious TLC which I estimate to be around 75k you can still make a serious profit on this.

If they do give notice and they're great tenants with a special circumstance, like a job offer out-of-state, I have been known to just let them give insufficient notice, but I have everyone sign an early termination addendum, something like, Tenant agrees to vacate no later than x date.  

The long term hold/sell decision and the tax implications are interesting discussions here. and I think this decision is very dependent on the investors specific circumstances.

I'm really on the fence about this one.I have not rented to a felon before, but I would given the right circumstances.