If your landlord doesn't seem interested in just letting your lease go M2M when it expires, then you might let them know you are unsure whether you'll still be in the area in the next 6-12 months and would be willing to pay $X more per month to go M2M.  

First if you get your RE licence don't ever let it expire!!

The other is when your lease expires, tenant can't make a payment.  

Well the time has finally come for me to move back to southeast Texas, where my apartment lease expired a week before I moved to Iowa.

@Bill E., with YOU being one of the "tenants" paying gas/electric (and with a $500+/m principal and interest payment), there'll be no cash flow.

Take a look at IRS form Schedule E.

Wait until it's been on the market for a while, send in an offer at a valuation that better reflects current rents, and then raise the rents to market value when the leases expire.

We finally found a good property by looking up expired listings in the North County coastal area.  

Rick Rucker and othersCan you explain how loss(negative) affect rental schedule E.

@Brittany King, as long as you are not going to go crazy and buy a 60K new car, I would say finance it and keep the liquid.