It hurts your reputation and will cause your neighbors to not be on your side. 

That puts in in a tentative state and if they decide those dates wont work, you can then cancel without harm to metrics. 

The one thing I need to add is a penalty if the tenant lets their utility bill lapse causing the utility to revert it back to me.

Thanks for your thoughts @David Barnett  What concerns me,  is big brother gubrmnt is gonna get involved quickly with this(In Boise some of this is going on already) and harm ALL landlords and in the end tenants.

.- I shouldn't be responsible for a sewage pipe located outside the house that I didn't directly cause to break.- My landlord is over reacting to maintenance cost,  I have lived  here for two years and those have been the only two major repairs. 

Plaintiff missed payments and and never paid latepayment fees, interest, tax or property insurance, which caused the balancein full on the existing mortgage to be called by the Bank for payment in full.Soon after the seizure notice, I filed for Chapter 13 bankruptcy to keepthe plaintiff in the home on a payment plan set by the bankruptcy Court.The plaintiff stopped paying for where she was living altogether, refusingto make payments through the bankruptcy courts in any amount.Plaintiff claimed: "It really just like startled me ( her ) because I (she ) had faithfully been paying my ( the ) note every month" (Quoting plaintiffwhen she well knew she had been given Notice of Eviction).

If you have a $2 million umbrella, there's almost no chance a tenant would sue you for that much and cause you to lose your assets.In fact, ask around the Biggerpockets boards and see if you can find a Landlord that's lost an asset to a lawsuit.Your best protection is to follow the law and treat your tenants honestly and fairly.

In addition, NJ does not allow you to give notice of non-renewal unless there are specific "just causes."

Found out that the HVAC condensation tube was running to the outside gutter drain (previous owner did this) and unsure why this didn’t show on my inspection report... so, the pipe froze and backed up moisture causing the electric pilot to burnout.

The other investor tied up the property for a long time not to close:( The seller could give the other investor grief that could cause the other investor to agree to cancel the one sided contract or close.