Then see I'd you can just do cash for keys to get them to leave and sign a Quit Claim deed to 100% cover you.Not sure how this would fair in court since a Magistrate could say they have equity and kick the case up to a higher court for a foreclosure.

I would make sure to get it in writing that they're leaving in 30 days.

My cash reserves after a closing I have scheduled with my planned down payment would leave me roughly just over 40k.

If they refuse to leave upon notice of non renewal or they do not pay you rent when it is due you may then begin the process to evict.First thing you need to do is find out if the language in your state landlord regulations allows a eviction application in progress to passes to a new owner.

Leaving automotive career of 9 years to join a start completely over career in real estate.

@Alex RodolitzYou dont sell them, you walk away...I see this all the time.. units burned up or some other crazy issue.. investors just leave them behind and stop paying taxes and everything....either the city will demo them in a few years or they will go to tax auction for the next investor to buy who doesnt do their due diligence..

That ended up leaving a large hole in the roof, interior bedroom ceiling and bathroom ceiling.

Last question is, can I sell one property, and leave the other property and existing mortgage in place?

After speaking with the seller, who is an 72 year old real estate investor looking to move on to the next chapter of his life, he give me some information about the property: rent roll is $103,000 annually, occupancy is 100% and currently there is a wait list, there is no property management company (he manages the property himself), cap ex, insurance, and taxes are roughly $21,000. the 20 unit complex is split among three building where two building have roofs that are eight years old and one building's roof is 18 but "in perfect condition", each tenant is responsible for their own water, sewer, electricity leaving the seller only responsible for taxes, insurance and upkeep. 

It would tie you to us and if you decide you didn't like the way we chewed our food you couldn't leave us and go to another agent without us having a chance to sue you for a commission.