This would be an additional value add on top of the rehab.If you are in my San Diego market, your offer will need to beat my offer if it is a good property.Good luck

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

I'd add on to number two that when doing google street view, pay attention to the dates the pictures were taken.

Consider a little town up the road, Cleveland....the cost to participate in Section 8 is more, the registration of property, and then add on top of that the cost presented by new legislation to mitigate lead paint (landlord responsibility!)

The base rate can be as low as 5.2 these days from their come the interest addons that got you to 7 percent.If you have more than one member in your LLC you would want to use the guarantor with the highest credit score.

The second scenario would not likely be possible for $150k but a secondary option would be to convert the garage AND add on to it which would be much less expensive than a tear down and new build.I build ADU's for myself and for others as a GC and it is all the rage right now.

Solutions will include 1) using Security Deposit to cover 1-month rent, then have a signed Lease Addendum that the SD will be repaid over remainder of the Lease as a monthly add-on fee, 2) Accept reduced rent payment and distribute the difference over the remainder of the Lease, and 3) if it continues into several months, I will accept whatever payment I can and I will move forward with the eviction documentation but likely hold off on filing until a nationwide plan becomes evident. 

Edit to add on the point of the roof; set your dollar amount for major decision list above any issue like a roof or HVAC, or you have clauses about things like that can be done at the discretion of the manager, or........ but this part isn’t really the issue of discussion, just wanted to point out there are many ways to handle those things. 

I hate to chime in when so many are already giving advice, but I did want to add one thing.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.