If she insists on staying and playing games, you'll hold her accountable and she can face termination, eviction, early termination fees, or whatever else that entails. 

Quote from @Mica Moore: If you are not prepared, self management may cost you more than a good manager will charge.

If they were doing major renovations then they should have prepared you that you may not see a return in your first year but subsequent years will make up for it.

I'm prepared to offer $3 million for the purchase, with the unique advantage of 100% owner financing.

You didn't mention anything about trying to resolve the situation which will entail selling the property.

You may want to consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return.

Not being pessimistic, just preparing you. 

There is some really good ones out there who are not surprised by this market cycle, who prepared for it, anticipated it, took actions in preparation for it, and are weathering it like the Master Navigators of the investing sea they are. 

You can invest with no money down - but it doesn't mean you could and should have $0. you need to prepare for worst case scenario's(roof, furnace, etc needs repairs and will need $$) feel free to ask me any specific question that you have.

On the other hand, STRs present higher income potential, flexibility in pricing, and potential tax advantages, but require active management, adherence to regulations, and may entail unpredictable income.