If SF came into a house that you were remodeling, assuming this is not your person residence, they can deny all claims.  

Rents around this area for a remodeled place would be around $700/ month.  

I haven't pulled comps official comps yet, but just doing some self-assessment via Zillow with similarish homes sold in the last 6 months, this house already priced $25k lower than what those sold for (I say "similarish" because they were remodeled, had garages instead of being a duplex, etc.), which makes me think the sinkhole is NOT already fixed (this is a question I have out to my agent). 

Here are the rough numbers on one of the houses, both are similar:Total investment (acquisition, remodel, carrying costs) - $200,000Current value (after netting out selling costs) - $270,000Potential Rent - $1,500/monthI can do a refi and get my $200K back out of the project, that leaves me with a mortgage payment of $1,400 including taxes and insurance (assuming 30 yrs. at 5.5%). 

I just came across a property recently remodeled in a sketchy, but up and coming neighborhood for $220K.

We remodeled a home and have been living in it.

The trend in new constructions and remodeled homes in the area is to have an open concept, kitchen in the front of the house open to the living room.

Most I have seen is around $1,250-1,300 if its newly updated/remodeled.

I know a landlord that is remodeling an apartment.

It was a remodel and I gave it to the owner who traced it back to her great grandfather.