Anyways shoot me a DM if you still need suggestions.

@James Khail if you’re considering investing in CA, I suggest staying away from Bakersfield.

Let's use 10% to keep the math simple.  

Any suggestions on resources for that?

.- M: suggests to cancel on the morning after 7th night.- G: there is no refund at all with a cancellation and resubmitted the same alteration request. - M: the alteration request is 100% refund for unspent nights, which is not in line with the cancellation refund policy and would leave me at a loss.

I would not add much, a simple bedroom, bathroom, kitchen, and hvac.Another aspect of this deal is that the building is listed as a historic building and thus could qualify for some grants. 

Any paper trails that should be in place or is it as simple as giving notice at the right time next year and not renewing the lease?

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

We have started down the road of fixing the place up, because we have a strong personal relationship with the seller, but it's time to get this in writing and set this deal up legitimately.I'm going to jump on YouTube and watch some Pace vids, but any other suggestions, resources, etc. would be greatly appreciated. 

One very simple example: If you wanted to send money to someone in France, you might go to a bank or Western Union, fill out some paper, pay a fee, wait a week.