Also, it appears that his contract for deed /land contract is set up in such a way that all he would have to do is evict if they stop paying.. we’re talking thousands of dollars for foreclosure over here and then we have to evict  them through the court system so we’re talking four months easy on the low end to recover the property.

The minute you waiver from the legally binding lease is the minute a judge will nail you in court and throw out the whole lease. 

The seller's heirs challenged the land contract in court (because there was a lot of equity between the buyer's contract price and the current market value).

The irs is pretty clear with various court cases that at least two stays is needed to prove short term rental status. you will also need to find a way to materially participate in the assetOne other caveat is that STRs are a business.

Believe the courts will rule this punitive initiative is against the law but still vote for it.  

You can either sacrifice a little money or let me stay for another year or get tied up in a 1 to 2 year court battle that you can't win

. - If tenant alerts us they will be late, our standard response thanks them for letting us know, but we are contractually obligated to send them a 7-Day - which they can ignore if they pay before the 7 days is up.2) We have 6 Milestone triggers when we try to contact the tenants to offer Payment Plans & Cash-for-Keys:- When 7 days is up, before we send to attorney for court date- When we receive Court Date Notice from court- When we receive Eviction Judgment after court date- When Michigan's 10-days to pay-to-stay is up- When we schedule bailiff- Day before bailiff date3) Our Payment Plans are formal, in writing and tenant MUST commit to specific Payment Dates & Amounts.

If you would rather pay an attorney to file the eviction papers, then pay the attorney to represent you in court, then pay the court filing fees and eviction fees, and then having to wait thru the process for weeks if not months before the court gives a final eviction date???

Courts move slow, and waiting “just in case” often burns another month of lost rent.3.

Quote from @James McGovern: @Stuart Udis not lying in court.