We are considering a private money lender or a partnership, but being new to REI, we haven’t made these contacts yet.

If they are month-to-month, you can give them a Notice to Vacate after closing. 

Basically show me the money; if it meets my profit criteria then I do not care if there was a mass murder in the house.This is assuming the location and property, except for the murder/suicide, are fine.I suspect the murder/suicide will not result in a noticeable discount in the purchase price.

Feel free to tag me or Private Message me for any other questions.

Distance really isn’t an issue but if you’d rather be present for your first deal then as mentioned above you could go in with another investor and partner on deal, just provide the private money loan to an investor, or a hybrid of the two.

Check your contract with them to see if there is a termination clause, say 30 days notice, etc. 

Month by month is easier - give them 30 days notice about changing terms.First, off course, they need to know that there is new property management.I usually put in writing all that as info: new ways of paying rent, your phone number to contact etcThen you watch who is paying late and post 3 days notice on the door.

If we did a deal like this I would want to use private capital (short term money) complete the rehab and get the rentals rented in 12-18 months and then get a bank portfolio loan.

I have hard money available and *might* have private money.I'm now looking for those who have the resources I don't  - design, contractors, etc. 

I plan on providing them notice that they need to have anything out by XXX date so we can start renovations.ConstructionI am in construction so I am well informed on construction means and methods as well as contractual documentation.