Hi!
My name is Michael Mason and i am looking to start BRRRR-ing residential and eventually syndicate/invest in multifamily in the Northern Kentucky/Cincinnati area. I would love to meet some people with similar inte...

I think that's fine as long as, and this is important, you DO NOT pay market value for the home.If you pay market value you're going to expose yourself to fluctuations.

Coming from a landlord, "at least they are paying" I think, reinforces a negative stereotype in our industry.If they do not have respect for this part of your signed contract, they will also flout other parts - whether or not you are aware of it.I would press them for a notice to vacate in writing for May 1, and if they hesitate at all, I would make sure you issue you own notice to terminate/non-renewal in plenty of time to be compliant with your jusidiction.I think you know this already, but I would not have let them go this long without paying for damages. 

You must haves lived in it for At Least 2 of those years which means you had to have rented it for Less than 3 of those 5 years (5 minus however long you rented it must equal 2 years or more).

What I do like are the rents, in most cases they can be doubled from what the previous owner set with their long term tenants. 

The work is mainly cosmetic, except for the drywall repairs.We are concerned about hard money lenders requiring licensed professionals to do the work or requiring licensing later on, leaving us scrambling to find a general contractor.Fortunately, one of our hard money lenders has said they will not ask to see licensing as long as we are not doing anything structural to the house.

What about the ground up developer that exhausted their interest reserve because  the construction debt was tied to the fed rate, but the project is still perfoming well and they want to hold off on refinancing a bit longer because its still a great long term hold but given the pre-payment penalties they are opting not to lock into a perm rate yet beleiving favorable financing will be available with a patient approach.....

We would ultimately not want my parents involved long term so they can recoup all the cash they have in the property. 

I did HOA's in Phoenix metro for a long time and was never able to find such a list.

Some will allow extensions as long as they see you are taking steps to get the loan repaid, such as the property is under contract and waiting on the buyer's financing.