I'll loose a lot less money and sleep keeping the property empty for another month than renting to tenants that destroy the property.And your statement regarding must rent to the 1st qualified applicant. 

Grow your network in your sleep. 

That experience taught me to always overestimate CapEx and vacancy buffers... it’s much easier to sleep at night when you’ve got those cushions in place.From what I’ve read in Bloomberg, these challenges aren’t unique, especially with rising rates.

Dont sleep on it.

We need to find a realtor who is able to connect us with other investors looking to take on a fully occupied property and I would like to list quietly to avoid disturbing the tenants. 

My tenant texted to let me know there was a domestic disturbance and her boyfriend destroyed the house.  

NYC DOB considers a shelter a 'community facility with sleeping quarters' and may require a special permit for this use.Thanks Abel, You provided me with the right search terms to dig deeper. 

It should also ease your mind and let you sleep better when you realize that you have a series of countermoves prepared to combat adverse scenarios.

That kind of shoot-from-the-hip approach can be fun for a minute, but it usually ends up like my old buddy Rick’s first deal.. he bought a distressed fourplex in Tucson years back without a real plan, and while he eventually turned it into a solid monthly cash flow, he spent the first six months sleeping with one eye on the tenant ledger, praying the HVAC wouldn’t bail on him after a hot desert day.

@Salome Ditmars In addition to what has already been shared on this thread, trusting the sponsor will be paramount to you sleeping at night, and I can't stress that enough.