Opportunity:  There is an old outdated building near a college campus that has been rezoned/approved for student housing 20+ rooms.

So many tend to be outdated in finishes and furniture and may need appliances, water heater and a/c's replaced as well.

Everything looks a bit outdated and my guess is that this is the furniture and decor that came with it when you purchased it.

@Steven Wilson that video was made 11 years ago... shows how outdated your views are.

The average rental unit is very outdated and in C-minus condition in my opinion.

Your first investment should not have any Important issues just outdated.

How much notice would you say is reasonable, considering they are kind people (despite being dirty and missing payment dates) and will have a hard time finding a place to bring their large dog.I'd given them written notice based on the rules for your area to get the process started (whether that's 30 days or some other number), and then tell them you'd be willing to work with them on the official move out date (within reason) if they need a bit more time to find a place so long as they are current on rent.

Outdated interior but nothing seems too bad.

This would be old homes we do that are 30-50 years outdated both cosmetically and functionally.  

I searched the forums prior to posting this but many of the results either had no answers, insufficient answers or were outdated.