Yeah, I'm bragging because looking back now I'm very proud that I took action.

If you're an individual investor who owns or will be buying a single family home to rent in Metro Phoenix (and other booming Sunbelt states), good news: the big dogs with their legions of analysts think you're making a smart move...because they're doing it too.From a 10/19/20 article by Mark Heschmeyer of CoStar News:"Young adults have been fueling demand in the urban apartment market for several years.

While I have dabbled in renovations for a couple of rentals, all other avenues of investing through real estate was news to me.

You're going to need some sort of police report if you want to take action against the tenants, so call them first.If you need to do something legal, your say-so isn't enough.

If so, what is the best course of action?

OK, not seeing this as the end of the world, but there are some troubling things (based on what I see in Portland and watching news):1) No inventory means in PDX people are reaching beyond FMV on housing and abetted by cheap loans2) Debt service issues - I'll take the extreme, look at retail in NYC, there's lots of space empty at $80/SqFt.  

Make it clear and non-judgmental, that you are concerned but have no plans to take any legal action.

Needless to say, they ended up clouding title on hundreds of homes, and their actions both got them a stretch in Club Fed for 7-75 yrs, along with being barred for life in Iowa from engaging in any way in the business of buying and selling real estate or selling securities.Personally, this seems like a bad work around for Dodd/Frank, verse just hooking up with an independent licensed mortgage banker in the area, to have them underwrite the property tax loan/2nd mortgage for a fee of $750 or $1,000, which could be tacked onto the total loan amount to be repaid over a couple of years.

Don't let this stop you from taking action!

Interested in comments. https://www.bisnow.com/national/news/other/blackstone-profitably-exits-single-family-investment-which-is-still-growing-101937#:~:text=Currently%2C%20the%20company%20owns%20about,launched%20Invitation%2C%20told%20the%20WSJ.