Unless a State Administrator tells you different as far as state is concerned about its laws I would do it per the state law and give them 60 days notice on their vacating along with a month-to-month lease or do the "cash for keys" deal a try. 

There was an obvious problem that was known that you did not address immediately.It is my hope that my direct response is taken as what it is meant to be.....helpful for your growth.

You will need to get creative to search out off-market deals that haven't already been approached by dozen's of investors.Work with a list broker for recommendations and be sure to get a list that has been run through the National Change of Address (NCOA). 

Sam,I heard a BP podcast recently that addressed this common advice people seem to be getting:  "start with wholesaling". 

One of the biggest concerns I see with larger MF units comes in the form of not having enough Cap Ex reserves to remain competitive or for that matter compliant with gov and other regs.

Wow, now I'm concerned about investing in TX.

I now have a better idea of my level of tolerance for risk, i.e. addressing certain items vs. leaving as-is. 

The issue that I'm concerned about is the finding a bank to refinance my cash out.

It will need some renovation and there are concerns about plumbing and electrical that needs some due diligence.   

@Brandon Swartwood PM me your email address.