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.   

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?

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. 

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

@Nathan Frost lot to cover, please DM to schedule chat!

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.

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.

That is assuming your DTI can cover the increased mortgage payment.If you have use for that extra $100k that you would get back right now then don’t wait.

The covered majority of the lost rent.

These funds can cover the down payment and closing costs for your next property.3.