I am a newbie and I just don't have quite enough cash to purchase but I think it could be a potential vacation rental property with appreciation as well.  

I am a newbie and I just don't have quite enough cash to purchase but I think it could be a potential vacation rental property with appreciation as well.  

The only common area was the laundry room.After a few seasons, the HOA got on my case about renting out my home for what the CC&R's called a "vacation rental".

My focus will be on Vacation Rentals and MFH.  

A tenant may decide to take a spontaneous vacation to NYC for a few days, or to evacuate to a friend's house more inland instead of dealing with the rain, wind, potential power outages etc...You as the landlord is to protect the structure and the roof from being blown off. 

I just read on your response that tenants have vacated.

Why haven't the tenants been given notice to vacate by now?

If the renters tell you long-winded stories/explanations especially when you didn't even really ask, take note as it's probably a red flag that they're full of excuses.If the tenants are currently month-to-month, you could request the landlord have everyone vacated before you close.If you keep the tenants, be sure to be firm but fair.

It could be possible to vacate earlier IF something monumental has happened in your life, such as termination of employment, but this is something you would 100% want to discuss with your lender.

I don't bother with when rent needs to come in, because if it's not in my account 5 days after the first someone is getting a Notice to Vacate.