As a buyer how is that not a giant red flag? 

Just sounds like a giant never-ending headache.Also, I don't see many here waking up and saying, “I dream to live out in the sticks...so I can create wealth."

One giant SCAM.The way it works is that check is fake.

@Dick Rosen, yes, I completely intend to give notice and not renew when the time comes.

As mentioned, Fidelity is building an expansion of the current tower connected to the east of it, they are also working on building a giant several story parking lot just to the southeast.  

Sell the house with the giant mortgage

My question is should we sell the house "as is" which would bring us about $400k total or do the reno and then do a room rent with shared spaces of the large kitchen, dining room, and giant living room?

(mostly huge vacation rentals here where you need 4-10 other couples to rent a giant beach home) while this is about 20 units, but it varies from 2 bedrooms to 4 bedroom cottage units so i has a little bit of everything. here is the awesome part, he does little to no advertising or anything, not even a good webpage just a infrequently updated facebook page and he pulls rentals like that. so there is definitely room for growth.

@Dick Rosen Thanks for sharing... do you mean that you put a hall/closet knob with a locking deadbolt on the entry doors?  

It costs a lot, and is a giant pain to close up all the wholes.