If you cannot cash flow well right now and a recession hits, you will lose a lot of money.

Lose with Substantial Authority.

ThId Is goIng to sound bad..but I’m not even sure you’d actually want to do this because if they become too financially literate they will ultimately become homeowners instead of renters and therefore you will lose your clientele

My understanding is that commercial properties tend to depreciate over time, only to be propped up with cashflow, and if you lose a tenant resale value tanks.

If you don't want to lose it, get it under contract and have it appraised.

You should prepare yourself well before putting yourself in a position to lose money on something you know very little about.

In reality, the current owner is losing a lot of money every month.

We’re not sure if this is the right move, as we would lose the additional monthly income from the rents, and also any equity the house may gain in the future, if we choose to wait to sell. 

In my opinion losing a relationship with a family member or even a friend over a few bucks isn't worth it.  

Hi Daniel,Antiquated law.At least you don't have to send it via "click-click" Morris Code from the telegraph station after riding there on a horse.Good Luck in your new venture!