Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

Its market-ready condition and strong local demand made it ideal for a fast, profitable transaction, aligning perfectly with Partner Driven’s strategy of securing high-yield properties in promising locations.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

Securing a good lender can greatly accelerate your real estate investing journey.

My goal is to create financial security for retirement.

I incorporated smart home technology, such as automated lighting, heating, and security systems, which is highly desirable in today’s market.

2.Are there strategies to reduce the required down payment or secure better mortgage terms?

.- I will keep their security deposit for funds owed.- I will do my best to garnish future wages until their debt to me is paid in full.This has worked 100% time so far.  

Not likely.Maybe some of the tenant acquired their own washers and are using them for cleaning but your dryer for drying.Get a security camera and mount it in the area and post signs saying the same.