The money is to cover the damages, what you do with that money is up to you.

My goal was to just take his month late payments and give him a non-renewal when his lease is up.

The land is in a very non-desirable area pretty much in the middle of no where so I would assume the cost of the land is low but don’t know how the ROI would be after you had the infrastructure up and running.

Quote from @Don Bessette: I have a 30 plus year tenant that can not keep up with maintaining their unit, it is filthy inside and in desperate need of renovation, all systems are in good repair and I respond very quickly when issues are brought to my attention.It is also well below market rent, and they struggle to pay the current rate.Looking for suggestions on how to gently proceed with the notification to move. 

I signed up with Jason Yarusi.

I have come across a few investing academies that help you set up an LLC and pretty much hold your hand in setting up your first arbitrage or Airbnb property.

If you meant co-living, look up @Grant Shipman, that is what he does.Can you please explain or point me to a post that tells us what your model is?

Plumbers are about to wrap up.

So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

Prior to clean up make an inventory even if burned.