Look at the lease very carefully and how they were qualified and validate income, credit, criminal history etc. to see what kind of element you have for a tenant base.

But she essentially said she wanted to give it away!

My only concern after speaking with my real estate attorney is the depreciation aspect (since that's one of the best aspects of real estate) and how that would work since the property would essentially be being "gifted" to me. 

That is essentially all we do.  

If you have had stistics and look at any large population you will usually see at least one element of that population outside the nomal distribution curve.

The same thing applies to land only hardly anyone knows anything about land.The key elements in making money land are the following:1.

This is when a landlord essentially forces you to leave by not ensuring that the place is habitable (or by otherwise not respecting your contract).This is what he is doing here...

To fast forward, essentially the husband had work across many different states/projects and their circumstances changed causing them to move back to their hometown within 3.5 months of starting their 1 year lease.The signed lease was very tight (no PM, just realtor, great neighborhood/friends and us) and covered us for many situations but I do want to get some clarification or advice on best course of action for the following:(please note this info is just from my googling/common sense and again I have no claims to be right in any situation here)1.

Some places I work I can do Same neighborhood (that many sell within 6 months)Same style (Colonial/raised ranch)Square footage +- 10%Year +- 3Garage spaces =and I have plenty to get a solid number of properties to work withOthers:Same school district oh gees OK countySquare footage +- 20%Year +- depending on age (something built in 1845 compared to 1904 is essentially the same place, where something built 1996 is different range than 2010)sold within 6 months.... uggh ok 9 months... ugggh ok 1 yearAcres within 10%..... ugggh ok what is acreage selling for there unimproved..... oK I'll adjust...And I am still doing adjustments for 20 minutesThink of it as more of an art than a science.Good Luck

This is essential because someone is going to offer a note with an unusual situation that you nay not catch and the note seller may not disclose (intentionally or in ignorance).The classic book is Smart Trust Deed Investments by George Coates.