Obviously keep your attorney in the loop as well, and a simple letter with letterhead is sufficient enough to prod a tenant into action.

Pursue legal action (friendship could go sour).3.

@Juan Carlos Gastelum   I have had this in the back of my mind for years, but there comes a point where thoughts must become actions!

If rezoning is just time consuming, I imagine a price reduction on this property would make it worthwhile.

With good interpersonal skills and the preparedness to take action should stuff go wrong (cash for keys/eviction), you should avoid any kind major disaster.

Either way it sounds like you got a good plan of action to get started!

I discovered my passion in Real Estate investing almost 18 months ago and have spent my time reading Real Estate Books, listening to Podcasts, and trying to consume what I can about everything Real Estate investing.

The main reason that the collection agencies report to bureaus is to garner action to pay bills.

I've been a bit burned by CR and the way they measure reliability.  I've started looking at Yale Appliance's take on things on their YT channel. Obviously, they sell appliances, and some of their reviews are not appli...

Also in NC my costs are ~$4k per year to be actively licensed and pay all dues, MLS fees, etc.My $0.02 is there are a million questions people try to wade through before buying their first deal and it tends to prevent action (not saying that is the case, but it very common for people).