Ripping out a bathroom for 5-10k depending on your contractor connections or personal skills doesn't seem like a good pay off for a rental so I look for creative solutions for working with what we have...There is prob no exhaust fan system so you either need to keep the window or install exhaust fan system.

My mentality is go off current cap rates.

Selling subject to is not a good deal for the seller unless that have exhausted every other option and/or are in a mess that they cannot clean up.

My husband and I started our journey last year with a house hack and 2 long-term rentals (after an exhaustive review of all options), there’s a lot to consider and ultimately need to ladder up to your short and long term goals, as well as your lifestyle (esp with kiddos). 

However, I want to remind you that the same mentality that allowed you to first build your wealth still exists and is retained within you.

I paid $1400 in Milwaukee, WI for a HE gas water heater,  new exhaust, removal of old, install new. 

When I told her this wasn’t allowed, she asked what part of the lease prevented it (there wasn’t anything in the lease that prevented it) …needless to say, I changed my lease to clearly state that each room in the house was single occupancy, and that there were limits on the frequency of guests (you live and you learn).This is by no means an exhaustive list of house hacking tips/tricks, it’s just what came to mind…It’s also worth remembering that, even with extensive preparation, house hacking can be challenging, and things WILL go wrong (e.g.; inconsiderate housemates, broken leases, furnaces that kick the bucket at the WORST possible time, etc., etc.).

The owner isn't dead but appears to be suffering from dementia + addiction (ain't that a mental illness now).  

The parent choosing to keep the temp at an unsafe temp with children could be a sign of mental health issues and they may need to take the children away to keep them safe. 

Also, in your response to @Rahma Zaghari, do you mean that a landlord needs to mentally detach from the house/property and treat it as a job rather than be emotionally attached to it?