In the meantime just reach out to the tenants as soon as possible in person, via phone, text email and let them know you are the new owner and where to pay and tell them as their leases are month to month you will be following up shortly with new leases for them. 

While I am still looking to network with Real Estate Agents, Wholesalers, and other Investors, my belief is that communication will be easier with these individuals as we can schedule meetings, exchange email, and text. 

What's motivating you to shift from being a passive to active real estate investor?

Without reading the document, my realtor forwarded the document to me, and I signed with the knowledge that funds were coming back to me (I have text messages of this as proof).

No more managing tenants, vacancies, maintenance and the managing the manager (who is a $12-20 dollar employee who's compensation structure us not aligned with your goals) By passing the control of the day to day operations to true experts who are literally partners (direct alignment of compensation and motivations), you can assure the investment is being optimized while you spend your time on what you want which is 1) making more money at your day job, 2) spending time with your family or 3) finding that one off deal that you want to do one your own while pairing with a Limited Partner strategy. 2.

The timeline I set forth (“by the end of the year”) is an internal goal that we are using to motivate our team to go out and source deals, as opposed to getting stuck in analysis paralysis.

How do you setup or get the contract when you have found a motivated seller?

See the text below from Lousiana's law.

I'd just keep the emails/text messages for a few months and move on with other applicates.

I self manage this one and our primary means of communication is through text.