-------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I do not recall this statement last time I browsed it a few years prior.

BTW, you can do an LTR on any property - house or condo - without applying for a permit.In the right location, you should expect to see at least a 2x return on an STR as opposed to an LTR.

I want to have a game plan in action prior to reaching out to lenders. 

It is still a seller's market in many geographic locations, so you can ask potential buyers for an extended closing period and/or with options to extend the closing period. 

These are key reviews for you and your team to review prior to out price confirmation. 

Our lease had an early termination clause requiring a one-month payment, but that didn't seem fair to her as she hadn't even moved in.How would you handle a cancellation prior to moving in?

Should I get a LLC in place prior to swap/paperwork?

Which means they are probably advertising new Deals all the time even though their prior offers are collapsing.  

What were the prior tenants during this time using it for?