One problem I see is that your building is going to be massively plumbed and wired on to get a functional brewery running.

I have 2 questions.1) Should I pursue this in small claims court or engage an attorney.2) Do I pursue the late rent amount each month or pursue the entire amount after the lease ends at the end of May or when a new tenant moves in whichever occurs first.

@Jake Walroth Yes if they are ok signing new lease, then add the 50/50 split, lawyer fee clause in case they sue you or you have to take them to court ... etc.

@Ben RobertsIn your contract insert the words "subject to" your neighbor being confirmed by the court as the PR.

I was about to take them to court but I received  a letter from their attorney stating the closure of RPM Wichita and that the owner was liquidating properties to pay his debts.

The problems with the UPS PO box are 1) It can only be accessed when the UPS store is open. 2) It would require intervention of the UPS staff to put it in your box, which could create discrepency if a payment comes up missing, especially if the tenant says the payment was cash.  3) It's only one location which may not be convenient to all your tennats, esp if you are talking about low income whomay use publish transportation. 4) A receipt cannot be given.We've even come up with a way to note "received with reservation" on the 7-11 receipts for those tenants our law requires us to do this for in order to maintain possession that the court has granted us.  

Until the sheriff knocks on his door and says OUT.So won't hurt to start a discussion with him, don't expect him to cooperate, expect to go to court and file for eviction if you get the property.

It was a very unique situation where the home had been foreclosed on, but the tenant had a ten year lease, which the courts held up! 

A single family home is likely more management intensive than a NNN deal, but even a NNN property may require some degree of administrative functions

Early Feb, my PM said he asked his attorney to ask the bankruptcy court to lift the automatic stay.