No, your lease will remain in effect and pass on to new owners of mineral estate. 

There are some new guidelines going into effect in August 2015. 

Just my opinion however.Here is a stabilized look at the property:9,500 market rent (all 14 units at the rents you mention above)- 15% for vacancy, concessions and loss-to-lease = $8,075 effective gross incomesx 50% expenses= $4,037 monthly NOIx 12 months = $48,444 annual [email protected]% cap rate (lowest I'd go in this area) = $569,292

For these scenarios, unless I am getting a heck of a steal, I make this a task for the seller as a condition of the sale.Got someone on month to month and just want to ease the transition and minimize damage and eviction expense in the event they don't vacant peacefully....I would go in with $500 plus their full deposit back.Naturally, I assume your situation is somewhere in between those scenarios and logically, so would be my answer.

Understand personal finance from a formal education side and you can see how a borrower may be effected and the analysis there is also appropriate.Dive into your state's foreclosure laws, when you see a term, like right of redemption, look it up and study that, Google it, on lawyer sites and see how such are applied in different situations.

Every ceiling tile and sheatrock has water damage.  

You can send an offer directly to the seller without going through the agent but that may not be very effective.

Home Value as is $125 KPurchase Price - $70 kThe owner I would be purchasing it from is losing it to the bank and wants to continue to rent with the option of purchasing the house back in 5 years or less for 90 K.I have never done a lease back ; what should I put in my lease with the renter to protect myself down the line if she was to struggle with payments ; damage the home ; etc ?

LLC bank account, and things go from there.Also, if you are paying them interest etc, it is best to do this on a quarterly or better, yearly payment, due to cost and hassles involved in multiple small international transfers - more cost effective in one big lump.Hope this helps....

Another reason to keep the fee... you probably will not be able to fully see damage caused by the pet until long after they are gone and the unit is vacant.