Which means you are now liable for anything they do.So, time to give the tenants notice to get rid of the dogs or move.If you have them on a month to month rental agreement, you can just give them a 30 day notice to move (or more, depending on your jurisdiction).  

Whether you fix it up or sell it as is depends on what your market dictates.

Ultimately, the decision depends on your goals, the local market, and the potential for growth.Good luck!

I disagree a little about what you said about companies are entitled to fair market rents, I believe that depends on where they are located.

@Cynthia Lee it depends on your state and local laws.Here in Michigan, we can accept partial rent payments up to the Writ status and have it not affect the eviction process.

Many of also argued that forcing out many STR's will impact our tourism revenues, which we're very dependent on, as many travelers won't come here if they have to stay in a hotel.

A basement conversion could make sense (either STR or LTR depending on how much work/headaches you are willing to take on).

Josh Duncan Josh it depends on your comfortability level but I have been taking out 401K loans to fund my real estate and personally I love it. 

This depends.

@Roy Gottesdiener The answer to question is it depends... on your market, strategy to buy RE, long term goals, and interest rates on your current properties.