For reference, we're heavily involved in the co-living space, which is an unorthodox strategy but can perform exceptionally well with the right property and systems in place.

Going OOS involves a LOT more trust & risk with whatever team you put together. 

I was never involved with the selection process. 

So back to the drawing board, but for myself the big takeaway is to continue on the course that I set out on and too continually learn and stay involved with goals that I set out on and to stay focused.

If you can involve the local fire department to help with defensible space as a start. 

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

These structures are significantly more complicated than a typical 1031 Exchange structure and there are inherent risks involved in the transaction, some of which are discussed below.

I suspect, as more and more leasing-related disputes are occurring involving credit cards, the companies have already figured out their method of handling these claims.

After removing the expenses involved with turnovers, she is getting back a 1/4 of what she lost in that cancellation. 

The purchase and sale of a business requires a lot more personal involvement than the purchase and sale of real property.