GSMNP is closed until further notice.

I want to send a notice introducing us as the new owners and giving them notice that in order to renew their lease they first must consent to a criminal, credit, and eviction screening under our new minimum qualifications/new lease terms for all persons over the age of 18 that live in the home and also inform them that rent will be increasing November giving them the chance to stay if they want  and meet our rental qualifications or decide if it's best for them to move.I want to know does this seem reasonable and if there are some things I should consider before moving forward with this plan?

Also, your credit history, the claim history of that property, your own credit history could potentially negatively affect the rates (also could be positive factors).  

When rent is not paid on time the tenant should be immediately issued the pay or quit notice before seeking any explanations from the tenant.

Refinancing could be an option, but I don't want to end up in a position where the increase in P&I payments would negate any Rental NOI.

You would most likely be required to put a minimum 25% down and the value of that equity would kill any possibility of ever having positive cash flow.

Probably not something that 95% of people would notice but I notice.

I haven't used them yet, but I've heard positive feedback from others.  

I intend to put up with it until his lease is up but my question is looking for advice on how to give him notice that I'm not renewing and when to give that notice.

It must have been leaking for a while, but nobody ever noticed because the older guy didn't shower as much and it didn't ever get wet enough to show or drip.