Hello Everyone My name is Shawn and I hope to one day become real estate investor here in Atlanta an also hoping to get some help and guidance along the way.

With my 9-5, I am part of a legal plan and have been for about 3 years.

It'll need professional guidance. 

If the lien was stripped it will still show in the land records... a title company would need to review the BK order as concerns the legal affect of the lien (or lack thereof).

How investors can legally and ethically engage in wholesaling:These guidelines are designed to protect all of us from scrutiny, investigation and possibly worse.

What's the legal timeframe allowed for informing the tenant?

Your safest option is to insist in the standard 12 month renewal and make sure they fully understand their legal/financial responsibilities if they break the lease.It may be standard for wealthy tenant's in A++ properties to attempt to negotiate their lease but that does not fly in my blue collar world.If they decide to leave you will be farther ahead even with the turn over costs.

Some will have it in the legal stuffs that you either have to pay them for the rest of the agreed management term, or will charge a fee for "cancelling".

--So long as it is legal, an above-standard security deposit.

Swati,You can get some general guidance on the forum, but you should contact some some of the self-directed professionals and discuss your particular situation with them one on one (you are more than welcome to contact my office and schedule complimentary 15-min. consultation with me).