This past summer BoCo made him redo the whole driveway to add one parking spot in order to renew his STR license, which cost $8k and ended up triggering the whole Site Plan Review process which was a major can of worms involving an architect to recreate the original house plans because the county didn’t have them on file from the original building permit in the 50’s.

One buyer failed to renew his professional license and lost his job just a week before closing - and that was after a year long search for a unicorn property. 

Just this week he told me that his lease renewal was coming up and wanted me to know what he should do.

Nothing on top of maintenance, no leasing or renewal fee, and no fee for inspections.

If you google "Non-renewal lease letter," you'll find over 10 pages of samples to choose from for Virginia alone...

Online rent collection, rent rolls and reporting, tenant roster, maintenance work orders, lease renewal notifications etc.

I also wanted to get this community's  perspective b/c I am also weighing out if I should renew my license or not... 

Don't raise the rent until the next lease renewal, and maybe not even then.Honestly, this is why, in my opinion, condos are a terrible investment for your average investor (unless of course you're investing in an area where there is sure to be rapid, immediate increase in value - sort of like buying individual stocks is not a great idea, unless you have a surefire way of knowing that they're about to skyrocket in price).If I were you, I'd think about selling the condo and get as much as you can out of the deal. 

If several tenants do not renew their leases and move out, you and your potential partner would spend more than you make until those units are filled. 

I'm entering the third year of a 3 year work visa that is technically renewable indefinitely in 3 year increments.