Depending upon the Lenders if you qualify, you can get up to 100% in Rehab Financing and/or up to 90% LTV on Purchase Costs.

Be diligent in your application process and verification. 

Depending on the country there also might be fire risk mitigations.

For a rule of thumb, replacing a commercial boiler can range anywhere from $20k to $150k, depending on the size, age, and efficiency.

Depending on how you use the property, you may benefit from a cost segregation study and bonus depreciation once the property is in service. 

It really depends on whether you prefer the hustle of managing STRs or the steadier income from LTRs.My TakeIf you’re drawn to the energy of the STR market and love the idea of working where people vacation, Florida might be the way to go.

It really depends on your goals, time availability, and risk tolerance.

The success rate is below 30% so it is always do some arrangements with the tenant or move on depending on the case.

What is a good system to create around standardizing rent increases where applicable / best way to communicate it to the tenants? 

you can always call or email the tenant in regards to this matter. i personally smoke as well and just would want my tenants happy and not feeling accused as its a big problem with a lot of tenant v landlord situations around the country. you can always say you got a report of the odor of weed and was just verifying the smell with both tenants on the property. you can restate your conditions with smoking. you can always ask if they are legally able to do so as well (meaning medical card). depending on how you want to handle it, if you want to make it a legal warning to the tenant as well, you should write a written letter sent by mail stating you got a report of weed and this is a written warning in case this a problem down the road, you have evidence to show the court if it gets to that matter that this is not your first occurrence. best of luck!