I am planning to cancel this lease due to the late payments etc, my question is since they are on a month-to-month can I just provide the standard 30 day notice or since they have been at the property for many years or is a longer notice period required such as 120 days etc?

I am looking forward to states requires all wholesalers to get their license, so that way I can get licensed and then I don't have to try to partner and jv with non serious wholesalers anymore. 

Purchase price: $550,000 Cash invested: $150,000 Sale price: $800,000 "Acquired a 3-unit beachfront property in Carolina Beach, renovated to increase rental value and resale potential.

Create the payment that’s very low in comparison to what your keeper would bring in rent.  

I am looking to do a few cash purchases/rehabs in the area and I wanted to get your feedback.

I am not against LTR but would like a higher cash flow property since my wife and I are already in our early 40's.

.#1 sell back to the owner with a Quit Claim deed and a 2nd position mortgage for the amount I have into the property plus interest and a down payment.#2 if the owner doesn't want to buy it back, I can begin collecting rent since I control the deed in my name at that point.  

Not just you throwing bleach on it and painting over it.In general it sounds like you were notified of the issue, attempted to correct the problem but were unable to due to the tenants non response.

Purchase price: $375,000 Cash invested: $60,000 Sale price: $525,000 This home was build in the 1980's.

You are missing my point on taxes.Scenario 1:  Your partner buys the house at the same time you put your cash in.