The reason being they did not want to be caught in a lease and have to deal with potential lease issues down the road.

Once the Booking.com commission was paid for each reservation, the net payout was usually slightly less than if the guest had booked through Airbnb or VRBO.

Plus for its high cash flow potential, utilizing a 1031 exchange to reinvest gains effectively made this experiment a relatively low risk for me.

Quote from @Kyle Jacques: I am going to stop using Evolve to do my listings and manage all the upfront stuff as well as payouts and money and guest experiences.

The rate will be higher (typically 1% to 1-1/2% higher) but you will be able to sell, refinance, or payoff the loan without  having to worry about paying what could potentially be thousands of dollars in a pre-payment penalty. 

If you're considering BRRRR, the FHA 203(k) loan could work for bundled purchase and renovation, but it’s often simpler to use personal funds for lighter rehab projects.You could focus on properties with strong rental potential and manageable upgrades to increase value.

During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.

You may end up needing to go through the whole foreclosure process which can take a lot of time and cost a lot of money, and you may end up getting the property back in much worse condition than when you sold it, potentially with a squatter in it and months of lost rent, and in a worst case scenario you will be in a much worse position than if you had just sold it outright. 

Great advice; with that said, the notice I gave her did allow for a 30 day period before a new lease would potentially take affect with a price increase.

If the seller misrepresented tenant conditions, consult a real estate attorney about potential legal action.