Quote from @Nathan Gesner: Quote from @Joseph Milano: I would talk to the renter to see what they want to do.The easiest method is to get tenant's permission to apply the funds toward their next month of rent.If they prefer the money back, I would issue them a check, money order, or cashier check when they sign the new lease.Thanks for your insight, I have no issue refunding them part of their security deposit towards rent if thats is what they wanted, it would honestly be easier for me.

I would love to connect to talk through some options for this client and others. 

I am out of Port St Lucie, happy to connect with another fellow investor in the area. 

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further. 

It honestly depends on your strategy - LTR, STR, flip, wholesale, etc. the tenant / landlord laws in CA are in favor of the tenant which often scares people.

Honestly most likely nothing.

Find an agent you connect with and understands your goals and start or continue to grow your portfolio.

I would love to connect with any investors or property managers in the area who are currently doing this!

We would love to have honest updates with progress. 

But if you really feel you’ve made a huge mistake, then just be honest and explain new terms and why you are changing it, and maybe he’s fine with it, because he is family and you likely would not have agreed if he wasn’t.