I second the caution expressed by @Greg O'BrienRemember who EY is primarily serving: high-income employees (or contractors) of International companies on overseas assignments.

Apologies that my opinion doesn't fit the current media and public narrative, I don't follow the Herd.When I started in 1995, it was the bottom of the last cycle, happens every 12-14 years, previous to Subprime it was the S&L crisisVery well documented if you do a bit of research.  

l

Quote from @Taylor L.: You're 100% right.

Only then can you serve the 14 day pay or quit notice and this needs to be attempted to be served in person by an adult third party (i.e. not you!) 

If it is 30 days serve notice before Aug 1, and hopefully they will leave end Sept.

I have found when I serve people well I get the returns in lower vacancies as well as easier to fill vacancies when they do occur.A true waiting list is harder as people usually don't have an always open window in which to move.

Quote from @Taylor L.: Quote from @Greg Scott: It should be noted that if you have a traditional self-directed IRA, you may end up paying more tax via this strategy than if you paid the penalty and then invested in real estate. 

And I suggest that if someone's "dream" is to make money with no money and no assets, they would be better served using that energy to acquire some capital and leverage their own property. 

@Lisa Vu we need more info...In addition to what @Nicholas L. asked, what are the total monthly expenses (incl. all debt service, PM fees, and maintenance/repairs)?