An auto body shop across the street that "stores" cars needing work there.Since abandoning the home, major landscaping would also be needed to clean up the walkway to the water.

Purchase price: $465,000 Cash invested: $80,000 Checkout my Airbnb here: airbnb.com/h/madeirabeachoasisSalt Water Pool & Hot Tub: $60,000Tiki bar with electrical hookup: $3,500Mural: $1600Interior Furnishings: $6,500Exterior Furnishings: $1,500Monthly gross booking revenue: $8,000-$12,000

Purchase price: $465,000 Cash invested: $80,000 Checkout my Airbnb here: airbnb.com/h/madeirabeachoasisSalt Water Pool & Hot Tub: $60,000Tiki bar with electrical hookup: $3,500Mural: $1600Interior Furnishings: $6,500Exterior Furnishings: $1,500Monthly gross booking revenue: $8,000-$12,000

I agree with Nathan (don't forget to price running extra water, sewer and electrical lines).  

I have about 250k USD to allocate to this venture, but I may want to dip my toes into the market with a single-family residence in an area like Parma Heights and test the waters.

This is when the tables turn to you restructuring the contracts you have with them or really going out on your own completely.

Remodeling, painting, carpet, flooring, light or water fixtures - sure, I'm good with that.

The only thing that sounds out of the ordinary here is the water bill

@Sharma Parth the company is out of Arizona and in 12 markets.Just a few years ago, Flint had a major crisis due to lead water line poisonings.

We have had all kinds of issue with the water meter reading too, and getting lot rent invoices in a timely manor.