There are very few if any hotels nearby (especially with something comparable to a 4BR home accommodating 8 people).

There is no way to accommodate such a shift.

What do your CURRENT business accommodation figures look like in comparison (for the Landlord)?

For scenario one, you would likely need to do a reverse exchange in order to accommodate the use of funds for rehab.  

., or in the case of automatic deposit, the OWNERS bank account information will be provided to the necessary party to accommodate the deposits.OWNER acknowledges receipt of the First Month's rent of $800, and a Security Deposit of $800, and additional charges/fees for ____N/A__, for a total payment of $1,600 at least two weeks in advance of the effective date of this Lease Agreement.

You may want to convert to gas for heating the 2nd floor and upgrade the electric to accommodate baseboard heat on the first floor since I'm assuming you'll hold this property long term so you'll want to make heat the tenants responsibility.

The property is currently modified to accommodate two families but there are no documented permits for the modifications done to the property? 

Basically they have to pay down everything else before they get to their $10 parking space rent, as long as the renting parking space is not paid we can tow or boot any car in the spot.Levi:Though I have posted above about renting parking as a separate (commercial) engagement from the renting of accommodations - zoning will likely play a role in the practicality of implementing such an approach.  

I will use 100 as my number for now, and hope that I can raise these rents with time to accommodate.

Either the property comes under contract or in the event of a HUD home, the property will get postponed several times before it is open to investor and then it gets pulled from the site.When I inquired of one of the realtors that has been very responsive and accommodating re: the payment of his fees, he stated that the "seller" pays his fees.