I will preface this by saying this is 100% a self inflicted wound that in all honesty did know know was happening. I am an investor with two other "good old boys" who still believe in handshakes and verbal agreements.(I do not!!! I have worked for a larger company and contracts and written agreements are a rule of operations.

Property was bought 4/18 with tenant in place with signed contract with previous owner.

1st mistake- I was under the impression one of my other business partners received a new signed lease agreement for our company. That did not happen....

2nd mistake- we did not do our own internal due diligence and perform a background check.

3rd- one of my other partners was informed in June that the current tenants were subletting(I found out 10/23/18, yes 3 days ago) and did not tell me. I would have never allowed that. Their theory was that the bills are being paid, its all good.

4th- the tenant that was paying the rent stopped paying and missed the rent for October 1. They did not post notice or even make calls figuring out why. Again found out on 10/23/18.

We posted notice on 10/23/18 at 5pm and they have until 5pm today to leave or we will file per Texas eviction rules.

What makes things even better is the current people who are occupying MY PROPERTY basically called me and said "I wish you would come down and try to make me leave." Well the already pissed off, very Type A personality, very well trained guy wanted to throw on the plate carrier, go lights out, and get playful in the dark. But unfortunately (or fortunately, depends on how you look at it) my old age and wisdom kicked in and going to jail and lossing my family is not worth a rent house.

So basically I think we broke every rule of being a land lord possible. I basically told both partners that I am now taking over and I am running the show as I am not going to run my business as a charity. They fund, I run the business, I make my cut.