If you do outsource, some management companies will cover various things like cleaning, supplies, etc. so look into that as well. 

They managed to cover the mortgage and still had a comfortable place for family vacations.

It varies, but when retainage exists that will drive up the cash to continue to advance the project because borrower won't be receiving draw releases equal to their outlay. 

My thoughts are to do an addendum (but not sure how to word it since she will have pre-paid her part until may) and let them figure out the security deposit between themselves at the end of the lease.

Home was nice 4 Bed 3Bth under $550K with a decent size lot/yard and it only required 5% down as a New primary.Now I am not sure how big of a home you need but as you can see $100K covers much more in a scenario like that one above. 

Some of the best BRRRR deals I have seen play out this way:You buy a home cheap enough that when you do a renovation and pull out 75-80% LTV, your rent covers your mortgage and you have returned most of your investmentThis is for A-B class areas. 

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Knowing what I know now, I will never contribute to Roth, only pre-tax.

Are you trying to afford a house much more expensive than your W2s could cover? 

House hacking lets you live in one unit and rent out the others, which can help cover your mortgage and generate some extra income.