A chainsaw is a a powerful tool as well, and there are no restrictions on who can buy or use one, but common sense dictates extreme caution when using one.

The issue is that the home prices here are so high that it's extremely difficult to find a good cash flowing buy and hold property. 

Modifying the lease will set an extremely poor precedent if another issue arises.

This is an extremely small parcel of land that the owner inherited from his dad, so he is letting my have it as long as I pay the $46 in back property taxes from the past 2 years.

However I do understand enough about the law to find it EXTREMELY unlikely that would be the case. 

In many parts of town we are extremely low on inventory in the sub $250k range, so even if lay offs happen it will take some time for the market to even up.

You need to get everything out of there and try to eliminate the smell, but you'd only need to gut in very extreme situations.Good luck!

B&B's are extremely operator driven especially if you have an F&B component.  

The point I am making is if you are new to construction/renovating property you may find it difficult to renovate a MFR and you will find it extremely difficult to renovate a unit if there are tenants in place.What is your expected profit margin for your live in fix & flip?

Before:Later:After:This house is extremely well insulated with 2'' of exterior foam board under the siding and an air sealed and insulated attic.