Your business interests may even expand beyond just you and your spouse and I would not be comfortable entering into a business relationship with a party in which I didn't know what the outcome would be if the party were a couple and I didn't know clearly what would happen if they separated.

For example, if you need to renovate the kitchen, you simply pick the style of kitchen you wanted, input the sq ft data, and the tool would then create an estimate,  a scope of work to present to the contractors, and an order list which you can import into homedopt/lowes to order the materials.I have been a PM for a GC for close to 7 years, so I understand estimator tools.

David,I would simply present the offer to have a new lease drawn up.

This is what I see from right to left:6 cop cars lining the street so no one can enter or leave.12 cops on the sidewalk looking confused.3 contractors on the stoop of the property protecting it.2 angry guys with a truck next to the property.The problem started with the angry guys so I walk up and put on my late night dj voice and talk slow, “ Hi my name is Jared, I believe I purchased this property on Monday from the seller.

I say this because most likely starting out at a young age you’re going to be looking to enter the market at an affordable price point.

I would love to bend anyone's ear that can offer insight, or simply follow along with another "newb" as we begin this endeavor.Happy New Year!

For example: when a one year contract is over and I wish to not renew with the tenant can I simply just tell them or do I need an eviction?

I saw a rant on FB today against landlords (RE Oregon's rent control) and all I could think of is how many people simply can't or don't want to buy a house.

As @Chuck Kramer mentioned, there are a ton of 4-7 bedroom high end new construction properties being finished this year and next, so you'll want to make sure that the aesthetic of yours will be unique enough to be competitive when all of those start entering the rental market.

For future reference, you should have a clause in the original contract stating something along the lines of canceling that 'as is' bit or the seller allows the buyer to assign this contract and allows the assignees to do any due diligence before entering into a binding contract, etc.