I noticed that Denver was gaining more and more residence and had a hunch that that expansion would eventually trickle to the north end where i lived.

I hired a third party (landlord friend) to serve notice and sign affidavit. 

Here is how my management services agreement is structured: 1) Define terms ("manager", "properties", "portfolio", etc)2) Term length3) Authority of Manager- specifically spells out what the manager can do on behalf of owner (and exclusivity)4) Responsibilities of Manager5) Responsibilities of Owner6) Property Maintenance (spending limits and expectations)7) Compensation (spells out ALL fees that I would ever charge an owner)8) Liability and Indemnification (protective of Manager which is industry standard at least in my region)9) Insurance requirements for owner10) Leasing (how manager will acquire tenants, non-discrimination)11) Termination (notice requirements, etc)12) Legal stuff (choice of law, merger clause, notice, etc)Hope this is helpful I can expand on these if you're interested more

You will feel like the parent in a long car trip with your two children in the back seat.If this TV dude is the nexus for other discontent in the building and is a PITA with you and others, I might send them a "notice to cure" after the neighbor's appeal fell on deaf ears (pardon the pun).I think the "medical condition" thing is a red herring, because I don't think that gives someone the right to violate the peaceable enjoyment of others in their residences.

This comes at a cost, of course.I noticed that you listed a con of syndication investing that you “can lose everything.”

@Wyatt Franta, Just noticed one small changed needed in your excellent post. 

@Brenden Mitchum The easiest solution would be to make the sale contingent on the current owner giving notice to all current tenants and start clean with your own people who you can work out RUBS agreement with.

He was late as expected on the first month so I served him with Pay or quit notice.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCreating an LLC in California would cost you a minimum tax of $800 every year.

The biggest thing I noticed when doing my deal analysis is that the "rules of thumb" don't really apply in this area. 2% rule, 50% rule, etc.