I would hire an eviction attorney right away to review the lease. 

Now, on the other hand, if the tenant is lying and the home is in excellent condition and you have the COC then yes, you can hire a lawyer and take other actions. 

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Hire an eviction attorney. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

My top questions would be the area/tenant class; will you hire management; and how are utilities split.

I'm a little nervous since bank will ask for Financial Statements, Balance Sheet ect. and I haven't hired a bookkeeper or have an accountant as of yet.

I'd be happy to chat about some considerations and questions to ask any syndication lawyer before you hire them!

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That OOS property Class rankings are usually vastly different than the local market they live in.7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.9) Class B usually also okay, but needs more attention from owner and/or PMC10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!)