DSCR loans might be a breath of fresh air to you, as they have been to me. 

Kitchen, baths, curb appeal, fresh paint are the best investments in a home for value add.You also get the gravy of enjoying the new renovation for the time you remain, so there is a bonus to you as well. $9k sounds about right so financially, it likely makes sense.

Home was all freshly painted and much of the trim replaced.

Or go with my gut and simply cover it with fresh vinyl wood planking.

Only real way to do it is to look at comparables....but those are hard to come buy given the highly LOCAL nature of storage...ie- you can't take one from too far away and rarely do multiple sell close enough to one another to be overly revealing. 

Assuming everyone is being friendly and you can do a walkthrough and the home is in the same condition meaning nothing to deduct from the exsisting deposit you can simply do as you suggested, refund the exsisting and collect new deposit and start over with a fresh lease. 

Curious to see what 2021 brings...We are getting a lot of residential relocation clients from the southwest - number one reason I hear is smoke from fires, followed by cost of living and fresh water.

Write your goals down DAILY to keep them fresh in your mind, and always be working towards those goals. 

I would think in the long run it might benefit you to take the funds from this house out without capital gains and then you get a fresh clean basis for your Michigan properties.

Make the unit fresh---but not above average for the area and start fresh with a screened tenant.