I can see doing the roof and starting on the exterior while they are still there but anything inside I’d probably wait on.

When there is "value add" in the project the returns are much higher but you wait about 5 years and hope the market doesn't change in the meanwhile.

As already mentioned in the responses above, figuring out your break even point (how many months it will take you) will be important for determining whether to move forward with that or not.  

Some states allow an eviction for repeated violations of a rental agreement.It is also not a good practice to wait to long to raise rent to market rates. 

It took 9 months from front to back with was too much time, but the wait was worth it.What made you interested in investing in this type of deal?

Dig into what they need and see if you can provide the administrative support as I mention in #4 below.

This is more of a commercial product I mentioned.

No one can 100% answer you what you can do here.The one general question I would give my opinion on is if the resident is responsible to pay for the damages, do no wait to use the security deposit.

@Henrique Dantas@Camila WongYou can refinance but you need to wait minimum 2 years after your purchase.

But in the same comment mentions that it doesn’t mean anything because they can just go up the rungs of the ladder and sue the ownership LLC.