Simple, maybe, but not easy.

Pretty simple, really.Anyway, if they never sent back the signed extension - usually, you would have signed your copy and sent it to him, or both done at the same time - then you have nothing, and I would just proceed with the intention that they are to vacate. 

The analysis can be simple such as drawing two columns and listing pros and cons.

Then I pick the best candidate. 

Create a simple excel spreadsheet to track everything.

Is it as simple as some would say to find JV partners?

So thanks to those guys for resolving this one for me.I'm sure the trash thing will be a problem however, the duplex is on a corner lot so ensuring the trash is not visible is not simple.

It is interesting you picked Sioux Falls.

So...ummm...let's play "simple math"...$450K purchase price, 25% down...30 year fixed rate mortgage at 5% on $337,500 is $1,812 per month...So if you have zero vacancy you'll break-even on the mortgage...And then burn money on maintenance, cap-ex (likely very limited), any vacancy, property taxes, insurance, etc.Consequently, you really, really, REALLY need that home price to go up. 

There are plenty of people who will buy your property and pay off the taxes if they are picking it up at discount.