A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I was just hoping to transition it into LTR and since we have newer furniture that fits the space well, it just seemed a shame to sell it all to do an unfurnished LTR, but again, I'm having a hard time understanding how logistically some of the details are worked out with that with furniture involved in an LTR.Thank you again for the support!

Perform this research by using the rent comp tool on BiggerPockets as well as FB marketplace, Zillow, Craigslist, etc Also for those 15% of units that are “at market”.

What might work well on one street could be a completely different story just a block or two away.

You have to walk these properties, understand where the hidden costs are outside of the spreadsheets, and understand the geographic appreciation trend and migration and population as well, none of which will be in the questions you are asking. 

It's less risky for you if it doesn't rent well and it's more profitable for him (most likely) without the headache.  

You've done well with having options, now just need to decide and get on the same page. 

Well Giacomo, Sometimes you are the football and sometimes you are the foot.

By the way - for the same reason the 1st position lien holder will be uneasy with 100% CLTV, as a buyer I would be uneasy with it as well.

I invest in Richmond as well, through house-hacking and BRRRRs primarily!