Sounds like a small claims court situation. keep track of all expenses.  

I found Lodgify during almost a year of use very intuitive and easy for my team to work and track. and they have great and fast customer support, and most importantly is that they support our local currency BHD. which other PMS/channel manager would you recommend for a vacation rental line of business?  

There isn't much to keep track of-did they pay or didn't they. 

Although you live miles away, plan a business trip to the area and maybe hire a local attorney to help you track down the owner or owner's relatives and make an offer.  

Assure them that as long as they're happy living there and pay their rent on time each month, you aren't planning on doing either right from day 1.During this conversation with the tenant, also ask them if there are any maintenance issues you should know about, or things they would like fixed up - this will have the dual benefit of giving you the inside scoop on any deferred maintenance issues that the owner themselves might not currently be aware of, as well as giving you some ideas for improvements you could make that would give you cover to raise their rent in the future. 

We managed not to move any lighting in the reno pictured below using one track and 3 linkable recessed lights.

Your analysis is right on track and  @Don Konipol provides some great insights on getting the most benefits our both strategies.  

And you will be on the right track.

I don't want to have another full time job and neither do a lot of passive investors out there.I'm working on building a longer track record because I know it will help me in the long run to earn people's trust.  

Who cares what method you use to track it.