Give them proper notice and wave bye bye to your problems.

I got in low during the foreclosure wave few years back and able to achieve 1+% on rentals in the area.

I can't tell you how many I bought at the court house steps that would wave that worthless paper at me.I felt really bad for them.. the AG's put all those dirt bags out of business and from my point of view then went over board...

Many renters are unable to afford the current wave of prices.

\If someone is going to give you $40K in equity(assuming to property is worth $225K) to wave your right to something I wouldn't take it because that definitely smells fishy.  

It is more of a wave that you need to stay on top of, usually with some fluctuations and variations more often than drastic changes that do happen from time to time.  

I currently make a pretty good living as a car salesman, so my goal is to ride the wave while the industry is up and dump all of my money into rentals so that in 10ish years I can ramp up and do it as my primary job. 

This has generated a wave of litigation over whether (1) the statute of limitations even applies to foreclosures and, if so, (2) when a cause of action to foreclose "accrues" for limitations purposes.The answers to these questions vary from state to state.

However, during that time, a hot water line busted and ruined the sub-flooring and the new laminate flooring that we just installed and as you can imagine, the floor had waves running through the living room.

So luckily I had a friend looking for a two bedroom house so she's renting it and I waved their deposit so they even cleaned the entire house out of all the junk left behind by the lady I had to evict.