You had your plan of attack but were totally open when I made a slight adjustment to the focus & boom we got you exactly what worked for you.

I don't care what deal you are buying, there is going to be something during ownership that could not have been accounted for during the acquisition period, and the operators have to adjust to account for that.

yes you should do a formal lot line adjustment or easement. this will be an issue in most instances.

You’d survive just fine like countless millions In Warm climates did before you came along lol 

Also, if you adjust for taxes with the seller, you may end up owing some money there since we are past the deadline for payment of the 3rd quarter, so be prepared for that, too. 

Avoid increasing, and if possible reduce, your exposure to these financial risks.For example, you'll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt all of which can increase your financial risk during a recession.If you're an employee, you'll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.If you're a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.

With that said, it might be a good time to watch pricing trends to see if Austin were to make a price adjustment.

In my opinion if they wanted to get serious in the major metro areas they'd partner with someone like Invitation homes and use their data, then adjust based on finish level for everything else.

.- There are about $85,000 in arrears- There's about $375,000 ish left on the mortgage- The current mortgage is an adjustable rate which is 2.5% for two more years then jumps up to 10.

I would try a bit more direct explanation of this reality before I go the lawyer route, but ultimately @Bruce Woodruff is correct, the tenant needs a serious attitude adjustment to be a "good" tenant.