Current rental lease which I share with my partner is set to expire at the end of this year and I would love to hear about experiences/challenges in this area. 

So until their license expires next may I cannot apply for one. 

One does not want to take the responsibility to give the landlord a Profit & Loss and Balance Sheet unless they are providing a service.Right in QuickBooks you can run rent roll, owners proceed, Profit & Loss, security deposit, last month, lease expiration date, and my list goes on and on. 

It sounds like you'll want to end this lease when it expires, renovate, and find a new tenant.

I rehabbed the units that were under market rents as the leases expired then rented them out at market rates after the rehab.

You need Brian to find a motivated seller, period.I like expired listings.  

You don't want do it after the 3 year redemptive period expires because then you would be waiting an additional year for the lean holders. - Once the 3 year redemptive period expires you can file a lawsuit to foreclose your tax lien.

My last credit score was 722 and I used to be a commercial real estate broker until I let my license expire.

How do you handle a tenant whose lease has expired?

At 77 we have enough doors to last us to expiration and turn it all over to our kids who will hopefully preserve some and enjoy the rest in whatever way they choose.