If it takes you two months to find a replacement renter, then the original tenant must pay you two months of rent.

I included links in the original post, but maybe that isn't allowed.

As for the original post, I think something like this works best if it is concrete: dates (say the last week of July and December), monetary consideration (I would suggest a separate sublet provision wherein you pay them for use, rather than working out rent credits), insurance and liability requirements, etc.

The original plan was to use the equity to build in a few years, but we were blessed with triplets so things got a lot tighter.

I will work with the tenants and see what works for them while sticking to my original plan of raising rents by $200 a month until fair market price is reached. 

It was written legally that I am able to purchase the house from the trust for the original purchase price.

When lawmakers wrote these provisions, they were originally intended to be used by hotels and motels rather than VRBO and AirBnB hosts.

Property 1 = 209k balance (349k value) 2.6% on a 20yr conventional Property 2 = 170k (218k value) 5.6% on a 30yr conventional(approximating on original post but total mortgage debt 380k)

I originally planned on using a hard money renovation loan, assuming I can pay it off with a refinance. 4.

Originally posted by @Stephanie Medellin:Manson C.