that is curious my only thought is the UPB is actually higher given default rates etc.. or the theory for folks is simply loan to own.equity is so high you take on the risk of low return for the chance to own the asset through DIL  as we know if there is a lot of equity more than likely someone will bid it at courthouse steps and you wont acquire it anyway.we have bought notes for the sole purpose to own the asset mostly properties that could be developed that most note investor simply looking at the notes and zillow etc would not know the HBU of the asset..

Just enter the space with the expectation that you'll need a well defined plan, clearly laid out budgets, and that some money will need to be used.

You can contact the tenancy board and simply as if you have a month to month lease and want to end it, what do you need to do? 

I enter the charges, they collect the money.

You are not required (unless you have a local law that says otherwise) to give a reason, simply state that the lease will terminate on X date and it will not be renewed.  

I have recently decided to enter the rental property business. 

Reynolds Jr the classic real estate investor book of all time was written (first version) in 1959, is NOT about wholesaling, and contains none of the latest tricks, fads or improbable tactics.However, it is the absolute BEST primer for anyone thinking of entering the residential or small commercial real estate arena.

BUT you probably should renew the lease and enter into an agreement with the tenants for protection. 

https://www.gladstonemoaccount...I don't use them, but they have a great reputation for their ease of use...i.e. you finish a dinner with a client and simply scan in the check to their app with your phone...bada bing, done!

You are going to want enough cash on hand to simply write a check for these types of things instead of worrying about if things are going to be alright or not financially.