Welcome, happy to help on any legal matters!

That gives a clear consequence to the tenant, and also gives the property owner a clear reason to evict (if necessary).If you're unsure about the legalities or the best approach, consulting with a property management company familiar with local laws or a real estate attorney could be invaluable.

Legal issues in setting up this type of business at your location?

You are missing out on an opportunity to train your inherited tenants to pay on time (and potentially extra revenue) by not using an online rental payment option where you can automate your late fee collections.

This will help potential renters make informed decisions and avoid confusion.Professional staging: Consider staging your rental property to make it more appealing to potential renters.

My family thinks that I've totally lost my mind by buying this house, but they said the same thing when I bought my current home and I think there's potential. 

I’m ok with it taking a while and some paperwork though and up to a couple grand in legal fees especially if I get to keep my downpayment and my parcel.  

Before proceeding with the sale, it's essential to weigh these potential downsides against the benefits of a quick and straightforward transaction.

They settled because they were going to lose, so why keep paying expensive legal fees?

I would be happy to do free work for any potential mentor.