Effective December 1, 2024, ownership of the property has been transferred from Michael Anderson to Electric Sage Brush, a limited liability company.All terms and conditions of this lease agreement remain in full effect, and all payments, notices, and correspondence should henceforth be directed to Electric Sage Brush LLC at the following address:2001 Space Odyssey Dr, Cody, WY 82414This change in ownership does not affect the tenant’s rights or obligations under the lease agreement.All parties sign to confirm the change.

Quote from @Bradley Buxton: @Matt J.SD has some great weather and opportunity. 

Did a second walk through this weekend to make sure everything is still the same condition as the first walk through.

If you won’t hire a PM I’d send something like: You’ve been a great tenant but because of market conditions the rent will be increasing to $x at the end of your current lease.

What are the conditions ?  

I think their general stance is going to be to go with whichever comparable property has the greatest degree of similarity in terms of (probably, in this order): location, age built, quality of construction/current condition, and square footage.

Without comps and a credible assessment of the condition, it could be a grand slam or  possibly 80k over what you should pay.

He did all the rehab in the beginning when he bought the house, that's why its now in a stable cash flow condition. 

I am not familiar with Horn Lake and the economic conditions you mentioned as a CON, but if you already have those concerns, on top of a large rehab, which typically don't shrink as you get started, and being OOS and needing a PM team, you may want to consider other options as you get started. 

Long story short, I am in a bad financial condition as of recently.