Any apportionment of such deposits, or of prepaid rents, between Incoming Resident and Departing Resident orremaining residents are solely to be resolved between them and Landlord has no responsibility for such apportionment.

They tenant pays $1.95 processing fee, you get your rent sent to your bank account around 5 business days from payment

I am interested in exploring renting it out long or medium term.

A neighbor 2 doors down also cited had added a staircase between his first-floor apartment to the basement apartment legalized and with the crazy rents in the area, collected rents now legally for both.

When you can buy properties like this, you can get almost 100% of your money out of the property, convert the property into a long term rental loan, with a DSCR Loan (Debt Service Coverage Ratio) where we as the lender look at the property and if it cash flows, and that is expressed as a ratio, for instance if your Total Loan payment including Principal, Interest, Taxes and Insurance was $1000/mo, then you would need a rent of $1200/mo and you would have a 1.2 DSCR Ratio.Here is an example of a cheap duplex https://www.zillow.com/homedetails/732-Broad-St-Menasha-WI-5...

Mortgage is around $3500/$3600 (with modification), and has little to no equity...rents in the area are around $3100.

If you do decide to purchase a primary, a multi-unit property could be a solution in terms of receiving cash flow on the other rented out units. 

I would guess rents are low compared to sales prices, because every local is probably parking their cash in real estate if they have cash, before it is worth nothing.Also many countries have no leverage or no leverage for foreigners, so cash only game. 

List price, what you have into it, appraised value, potential rent?

Do they qualify for a DSCR loan with estimated market rents (use long term average rents, not suped up STR or MTR rental income to be safe).