If I had it to do again, I would press him for a range, but hindsight 20/20.

I would like to know if theres a way to word it to where I am providing a space, but it is not considered a bedroom due to no windows and I am not legally bound to whatever the tenant decides to use it as.

Many Of these properties are in the 1000-1400 Sqft range.

@JD Martin the biggest issues have been related to furnaces, hot water, a missed clean, and broken hot tub. generous refunds have ranged from 25-100%, it really just depends on variables like nightly rate, guest demeanor, impact on their stay, etc. 

We have mostly 2-4 unit buildings compared to the larger stuff but that 5-50 range can be a good space to find deals in. 

Detroit has 183 Neighborhoods, ranging from Class A to D.Would need the address to give a better answer.

Tenant damages for unpaid rent, etc...can be sought in small claims court.I am not seeing lower rents...stable & slightly higher, within normal ranges post pandemic.Norbert Huston

@Pascal Enohnyaket as you know the Twin Cities is massive, so depending on what side your on the assorted vendors will range a fair bit. 

I personally invest in Columbus for its growth and appreciation potential, but the prices are generally higher than in other markets like Cleveland and Dayton, which are worth exploring if you're focused on cash flow, typically ranging from 10% to 18%.

@David Felt hopefully you had an attorney help you draft the lease, ask them what you can and cannot do within the bounds of the lease and your state laws.