Hopefully your lease has provisions that explain the process for adding a house mate/ how long guests can stay/ repurcussions for breaking the lease and I would reference those in your note.

The previous owners did a do-it-yourself remodel which had tons of red flags if I had taken the time to cross-reference the sellers disclosure with the inspection report, but at that time the market was hot and I had to move fast.

They understand that there's value in what they provide, which is steady, documented income, minimal turnover, steady payment, quality references, no drama, and peace of mind.

Everything else is a level of passivity vs. how much management and oversight you want.I will still have more active investments as well, but I think it's silly when passive income is referred to as part of say, multifamily.

I'd just make sure to check their references.

Be sure you buy their professional services and refer them to others in your network!  

Also for reference, pretty typical SFH flip type properties in my market are about $300k - $400k price tag.  

At least an LTR tenant needs a place to live and a good reference. 

I think you are referring to the deed.

My recommendation would be to ask them if they're okay with you finding folks/quotes for the uncompleted work and getting them on the schedule (if it doesn't explicitly say it in the agreement).