If it is month-to-month the lease can be terminated at any time by either party with proper notice.  

I played around with some numbers, and it would seem the only way this property would properly cash flow would be if the investor picked it up somewhere around 168,000.

I believe if I could explain it properly he would definitely go for it. 

Proper planning and budgeting is always key. 

Serve proper notice on the landlord that the lease will be terminated and no renewed when the current term expires.If the co-tenant wishes to remain, s/he will need to enter into a new lease with the landlord.

For comparison my second worse performing property is worth ~$430K and rents for $2700 and market rent is likely $2900.I also think the acreage will be a hassle as a rental as it is tough to find tenants that will properly maintain large yards.I think the rural location will not help finding renters or getting a good rent and the size of the unit and property will mean high cap expenses (my estimate would be >$400/month cap expense).The reason your home does not work well as a rental is because you purchased the property to be a good home and not a good rental property. 

Heck, if some loan officers are not well informed on the matter, then good luck trying to find this info on search engines without proper direction.

I have only a couple of properties generating income and I think I can offset most of my income if I do it properly.

They will provide all the answers regarding the proper legal procedures to follow.If you are lucky another Pennsylvania landlord or PM with personal experience in a similar situation my respond.

Just reacts to things and is lacking in the proactive management.