If the end of the current lease term (usually the end of the month) if less than 30 days away, you usually need to bump the notice to the end of the next month (e.g. if you give notice on November 24th, so you'd have to give the tenants a December 31st end date). 

As long as the numbers still are lucrative with incremental rent bumps, the deal might be worth the effort.

your fist flip will probably not go as smooth as you plan, and your hold time will be longer than planned, (you could get lucky) Dont get into one to be into one though, it has to be a great deal.  

@William Acker Yes you need a rehab to bump appraised value.

So I have came into a huge speed bump in the disposition aspect of one of my current Deals.

Put portable thermostats in each room and record temputure. you are only required to be within the legal limit. they   can threaten all they want. legal limit and maybe you bump it up a degree. after that tell them to invest in a portable heater.

I build into my 12 month lease a small bump up if they want to go month-month after it expires. 

Lots - 89 lotsOccupied - 57 lotsPOH - 0 (9 will be kept under a master lease with seller and will pay lot rent)Vacant lots- 32Utilities - city water and sewerLot rent - $325, close to market, possibly bump $10Expense Ratio - 41%Location - Durham, NC MSAPurchase price - $1.525mmWater/Electricity/trash - passed through to tenantsFinancing - Bank, no seller carryDemographics - mostly HispanicObjective - bring in new homes and fill up vacant lots and bring down expenses slightly (currently have 3rd party manager) 

bump

But, there are deals that can be very complex that most "investors" here will never bump into, so in some cases, $600 might be a bargin.