Should an unauthorized occupant refuse to be bound by this lease, or refuse to leave on our demand, as the case may be, you agree to pay, as additional monthly rent, the sum of $25.00 for each day the unauthorized occupant remains on the Premises.You can also add some language about water use, but that could be tricky. 

If I had to do it again, I would have passed on that property which was at the median price point (far from a high-dollar luxury property) and continued my focus on houses well below median value.Buy at the upper end of the market with a high degree of caution and demand a huge margin, or you're better off applying you capital to other opportunities with more predictable costs and outcomes.  

It is common for a note investor to demand a yield greater than 10%.

The bottom line is that the appraised value of the house in this case doesn't matter because it's A) above your committed price to purchase and B) is only an opinion of value for the purposes of establishing the deal as a market value for lenders and interested parties of the transaction.Put another way, if the appraised value had been $120k, would it have been appropriate for the seller to come back and demand a higher selling price?

I am unsure a house of this size would have a high demand as a rental?

A 2bd might be easier to get because of low demand as well, and everybody has to live somewhere.

Though others frown on going for appreciation, historically, appreciation has been very good to many of the areas (especially coastal areas) here, because it's all about supply and demand. As

Much to what has been mentioned I have never heard of such a demand.   As

You're talking about "A" neighborhoods, so there will always be demand. A

Risk is a much bigger factor in my return expectations than amount of capital invested, though I would demand a premium for a larger investment amount if it resulted in less than desired diversification.