If someone paid even $300 before they got the lease, they're a lot less likely to vanish on you.Of course, do your due diligence to properly word it so you retain the deposit/they forfeit it if they do disappear on you or change their mind.

Not an expert on this topic but the best success stories I've seen involved situations where the underlying business was done by a separate entity/experts who knew how to properly run the business. 

It is interesting to see how different neighbourhoods react as to what they buy. 

@Michele Redd I think yes, a good broker in the area will help you properly position it.

@Serge S.We always say let’s not over react to a situation.  

Depending on where your property is you could send a notice of non renewal with the proper notice period-30 or 60 days.

This property is off of 55th, north of State Ave.Goal is simple:  buy discounted properties, turn them around through proper management and capital investment, thereby forcing appreciation and creating steady cash-flow. 

When done honestly and properly, syndication can be a great way to create and preserve wealth via passive income. 

Many tenants and landlords will hear many things, interpret what they hear the way they WISH to hear it and then react to what they think they HEARD.Based on what you asked up top, I'm sure you can handle it with wisdom and grace.   

So anyone who owns them that hasn’t properly prepared with cash reserves will hurt the most immediately.