I've spent quite a bit of time reading the standard Trust Deeds that come with conventional mortgages, and none of them explicitly prohibit transferring title to the collateral, they almost always speak to the beneficial interest or rights of occupancy.

If you live on a property that is Smoke free by order of the owner and inforced by a written lease from the non owner occupents then I think the next time you smell smoke you should take the only prudent course of action and get out of the house say to the front porch ( where your tenant might be sitting) then you might take the prudent action of calling the Fire Department of course you should loudly warn your tenant that there appears to be a fire due to the smell of smoke on your non smoking property and that you are calling the fire department so they can check it out.

Occupancy rates, P&L statement, etc?

They choose instead to go to the sore to return and buy something then deal with some outsourced nightmare phone company being used for customer service returns.Most of my clients do not buy big box but centers with multiple tenants for better break even occupancy.

As a person who was an owner occupant in the neighborhood, living there was a good experience. 

There should have been a clause in the contract, an addendum or a post occupancy contract.

The 30-day notice of termination must be in substantially the following form:NOTICE TO TENANT OF TERMINATIONYou are hereby notified that your rental agreement is terminated on the date of delivery of this notice, that your occupancy is terminated 30 days following the date of the delivery of this notice, and that I demand possession of the premises on (date).

Cant go wrong with 50-60% occupancy rates.

Individual home values are $30-$40k, and have 100% occupancy via Section 8.

The reason I ask because I plan to purchase a multifamily 3-4 units and rent the others though a VA owner occupancy loan.