Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Well, BIA has got you covered.

My gut says that Norada got "all lawyered up" and promoted an extraordinarily one-sided deal. 

I've argued for this and the powers-that-be do have a good argument that they are still active just in other ways, how to cover labor and actions during that, etc..

It’ll cover you in case there are any disputes.I know it’s tough, especially when other tenants are being affected, but it sounds like you’re handling it as calmly and professionally as you can.

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

The renter has given you the money to cover your borrowing costs and pay for the home's upkeep. 

Ensure that the cash flow from short-term rentals will cover your expenses.Ultimately, it depends on balancing location, property condition, and cash flow goals.

The other hurdle many run into is that you need to have funds to close and cover reserves in a US based bank account.