The plan is to provide the tenant with their own stackable laundry in their unit and offer the shed for storage.Is there a legal timeline needed to give such notice or is issuing a new lease best /covers all bases?

NW covers a broad range of neighborhoods.

And typically long term rentals don't make it easy to include property management fees into the numbers and have them still work well.I would consider looking into STR type areas where you can avoid the risk of property damages (str and pm insurance covers almost everything that they might damage) and evictions/collections.   

Time to close, cost of capital, & their requirements - there's a few that cover detroit & will lend up to 75% of ARV, 90% of purchase price + 100% of rehab costs

Some of the best BRRRR deals I have seen play out this way:You buy a home cheap enough that when you do a renovation and pull out 75-80% LTV, your rent covers your mortgage and you have returned most of your investmentThis is for A-B class areas. 

All state said they cover cash value for properties built prior to 1940, drewlling comes out less than half of asking price.

They can cover up to 90% of the purchase price and 100% of rehab costs, making them ideal for BRRRR projects[1].

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

If they are taking out a few breakers and a fire happens insurance will typically not cover anything.

I'm an authorized reseller for Generali (for our guests that book off-platform) and it's something like $59 for the guest, and you can buy it on their behalf, but I'm not sure that it covers chargebacks.