His home owners insurance will pay if he has State Farm, but not if his insurance carrier finds out it was business related.

Not if you are close to having your mortgage paid off.

I borrow money, I pay it back, leave me alone int he meantime.At the end of the day  I really don't care if a loan is recourse or not.  If

In most states you would be able to provide notification of lease termination with a month or two notification but …In California multiplexes over 15 years old (I am assuming your units are older than 15 years) are rent controlled.  

LeoNo, not if done correctly. 

@Katherine RobertsWalk away which you can doThey were to close on a specific date and did notIf you think those are the only problems with the house you are 100% wrong as for every problem you see now there will be ten more laterIf you do go through with it I absolutely would do a home inspection on it.

If it is the rent, it appears pretty low based upon the $500k value.No matter what you decide to do for the long-term, for the short-term do these:1) Make sure the city/county is sending tax bills to your address, NOT the property2) Make sure the city Assessor's Office has your address for any other notifications.3) Check with Water Dept if you or tenant is LIABLE for water bill.

If they're asking for a $450 net reduction off of $1,500/month, then absolutely not. If

@Kylie Tollios some of the STR listings you’re seeing in Denver may be partially owner-occupied which is legal (you can rent out part of your as a nightly rental but not if it’s a pure investment property).

Did you get copies of the lease/notification they sent to tenant that they were continuing month to month?