He also is guaranteeing payment from tenant even if he gets a loan through air force then have it come out his check.

I hesitate to call the current market a bubble - there's just too much up in the air to really see what's what, and while RE is a big part of the general health and status of the economy, there are a number of other factors that determine what / when / how the correction happens.The bigger they are, the harder they fall, so unless we (collectively as a society) really have our crap together (which we don't), when we eventually do go down I think it's gonna be a doozy. 

Bombed the house with odor eliminators and have an air purifier.

Need to make sure insulation is solid in attic, and your CFM and btu/hr is high enough to handle the head pressure it has to supply to push that air up that much vertically. 

Budget is somewhat up in the air, perhaps up to about $1.2M.

The owners of the other adjacent home have been on an extended vacation (and have left their air conditioning set to 85 Fahrenheit).A few weeks ago, my tenants called me saying that their AC can't maintain setpoint--I assured them that this is normal as both demising walls are currently exposed to elevated temperatures.

A contractor gave me a price to add central air to a house that I feel is overpriced.

Yep I was going to say if you're doing southern vt, it's going to be most profitable to do air bnb on ski properties.

Originally, my rehab budget was about $63000 which included roof, siding, total redo on the inside, new furnace, air, and duct work (currently has old boiler system and no duct work) I had several companies say they wont do loans for less than $75000, so i increased my budget, opting for higher end counters, etc...

Would like to rehab using the brrrr method on small family units to grow some equity and capital, then air bnb smaller units in the inner city area.