Hello,Looking for suggestions on scenario I have . 

I hope you find great success in your endeavors as a real estate investor.I highly suggest BP forums, podcasts, local REIAs, and just networking in general.

But I would suggest contacting your local REIA for help and references. 

I would highly suggest building rapport with realtors in your area they will be happy to put any deal together for you!

In my suggestions, I'm assuming you are planning to buy and hold?

Guessing you're desirous to turn your Pittsburg dirt into profits, I think you're on the right track though will suggest strongly that you yourself or someone very knowledgable that you can trust and manage babysits the process down to keys in hand, as I assure you, dealing with contractors and all entities along the developer's path takes an entirely whole new layer of skin and nerve.

Hello Gwyeth,If you are going to be landlording, I suggest you take a sec and download the Landlord Tenant Act for the state you are holding in.

or do you suggest a grace period?

Thanks again all - I have taken the above suggestions and have told them I will let them out of the lease.  

Hello Jon,I would definitely pursue a feasibility study on what it would take.