At a 75% LTV refinance, you're only leaving 5% of ARV invested in the property is purchased at 80% ARV.I only ran the analysis down to 80% ARV because the investing environment has changed so much.  

Check the lease to see if there is a clause about the tenant creating a safe environment.

This isn't inclusive but should give you a good start.

There are other avenues to review but I agree past rental history is important (disclosure I have 15+ doors right now)If you feel bad for them then rent to them.My point is its corporate america and you are blaming the wrong person - you are blaming the corporation but you should be blaming the politicians who create an environment that is tenant friendly and sue happy. 

google All inclusive Deed of Trust state of CA.. that will give you a really good description and if you can find the actual deed of trust to read its a great wrap document .. in practice   you have a current 100K loan at 8%  you sell by owner and take a 125k note at 9%  the 125k wraps the 100k.. you continue to pay on the 100k the while the new owner is paying on the 125k  payment lets say on the 100k are 1k a month the new payment is 1.2k a month you make the 200.00 delta..

Why will likely determine how because if you are looking for cashflow vs. appreciation vs. quick capitalHow could it be househacking, brrrr, flip, long term -> You mentioned BRRRR, which is an awesome strategy but will only work in specific sectors of Chicagoland. finding the perfect brrrr in the current environment is extremely tough!

Many of these projects derive 50% or more of their overall profits from reversion cap rate assumptions and some type of compression that probably doesn't exist in the current environment.  

 $1800 (high end of rent range) - $1535 (hopefully mortgage includes full PITI) - $90 (5% vacancy) - $400 maintenance/cap ex - $180 PM (at that low rent point I am using 10% all inclusive) - $50 misc (bookkeeping, utilities that are not tenant responsibility such as slab leak, tax man, allocation of asset protection, etc).  

I moved to Florida a year ago and I love the wether and the business environment.  

However, in inflationary environments, real estate can be a safer investment than other asset types because home prices often stabilize or increase over time as more buyers look to real estate as a hedge.