Mice infestations, especially in the attic, might indicate damage to insulation, wiring, and wood, which could become a major repair if the damage is extensive.

The question is: Do I let her rent longer, continuing to collect, then renovate before the next renters' cycle (around March/April or later)?

If tenants are moving out right after closing, do double check the leases clearly show the security deposit they paid the seller and you collect that amount at closing from the seller (credit to you) so you have those funds to then return to the tenants when they vacant under your ownership. 

We highlighted its prime Detroit location to potential buyers, enhancing appeal without needing extensive improvements, creating a win-win outcome.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

For market pricing, I collect LTR data from BP rent calculator and multiply by 1.5x.

I did not dive into your numbers extensively, but 1.9% CoC return is not nearly enough for me.Good for you for not trusting the seller’s rent estimates!

IA will be building, collecting rent & and taking us on virtual or real vacation. 

It was obvious he valued the upfront fee more than the potential of a real partnership where we could collectively earn substantial profits (hundreds of thousands of dollars vs 10k) in a matter of weeks.

This raises the operational costs for hosts.Compliance with Hotel Occupancy Tax (HOT): STR operators must collect and remit the city’s HOT (9% for San Antonio and 1.75% for Bexar County)​.