Great advice; with that said, the notice I gave her did allow for a 30 day period before a new lease would potentially take affect with a price increase.

I do have a nightly pet fee but i put in my listing that if someone is bringing a pet for an extended period of time they can also reach out to me to discuss a flat pet rate for their stay.

If you are having trouble sourcing either over a years-long period I agree selling makes the most sense.

What do you think about refinancing FHA loan into conventional in order to utilize FHA loan again or does there have to be waiting period?

A preforeclosure period of 120 days is required before a lender can enter foreclosure for lack of payment. 

(no waiting period to simply refi what is owed) DSCR programs are not purchased by Fannie/Freddie so they can set their own rules and some have a waiting period as short as 3 months. 

However, be careful about seasoning periods on the new loans. 

Tenants in arrears due to “loss of income related to COVID-19” have a six-month grace period—without late fees!

It was mostly due to my day job income and low cost of living over a long period of time; however, real estate accounts for about 50% of our income through a small portfolio of short, mid, and long term rentals. 

@Ahmed Moustafa usually the loan servicer has the say with regards to a waiting period.