do you just “tear the band-aid” off?

@Shawn LongHave a real estate license and have represented myself in purchases with no tears shed by listing agents

We made the decision to tear down and re-build at that point. 

Risk is real and that just compounds it and in tough times can tear the whole thing down.Great posts ! 

I've been wanting to look into tearing down a couple houses in a relatively derelict but upcoming neighborhood and replace them with a nicer 4-plex.  

Frat boys will run amok, families will tear down your walls, old couples will "forget" to pay you for months on end and random people will paint your walls with oil paints in colors that children would find revolting.Screen people, take the max security deposit and make sure you are protected from damages in every way you and your lawyer can think of.

You are not allowed to charge any deposits or fees for either animal, but if at the end of the lease the animal has done noticeable damage beyond normal wear and tear, you are allowed to charge the tenant for those damages. 

He wants to sell that 50x100 lot with an old house that is really just good for a Tear Down House on a normal lot, to build out as a Two Story, 80% construction to lot size house.

I'm seriously trying not to break down in tears right now, that comment was very hurtful as someone who has  been a victim of assault.

But it's a bigger anxiety to watch the months tick by while you try to evict a tenant you should not have accepted in the first place ... at least while empty, there is no wear or tear on your unit. ;-)