The disadvantages in my opinion are the meeting and greeting and cleaning up after people. there is more management involved and what would happen to your profits if you hired the duty out? 

I would guess that a 3% max annual raise is more realistic because the socialists are tightening their grip on California and pushing for harsh laws to take control of properties etc. 

Your only option now is to come up with the money to buy the place or come clean and admit everything to the owner.

I want to avoid holding costs with him holding onto it while we renovate, but how to I make this as clean as possible?

But if you allow tenants to have pets it is not maintenance free and needs to be cleaned/sprayed down etc.

He can also leave any furniture behind and we will clean up.2 – Flexibility to close/move in on date at his convenience.What other suggestions should I make to make my offer better?

However, you can expect to recover about 50-55% of your investment when selling the home.Improve curb appeal, which is what you mentioned before, clean up the exterior, add landscaping, and make minor improvements to enhance the property's first impression.

First, clean up your house so you can expand it.

I am not beeping harsh as she requested additional eyes which was good and she was receptive to inputs… I consulted on one today that had 95% LTV OO but no PMI, 2% vacancy as self managed including delinquent rent and tenant turnover, a maintenance/cap ex that was based on percentage but was a quad and her allocation was ~50% of my estimate, and no PM even though she intends to move away in a year or so. 

. - along with inconsistent incomeTo be honest this person should not be investing in real estate and focus their time and energy on getting a stable w2 or income and get their credit cleaned up first