Additionally how do you best protect against them long term?

Madison has pretty strict short term rental rules if you don't live at the property, so mid term furnished rentals is a strategy I have seen done here. 

Obviously I would like to give them plenty of time to uproot their lives, but also want to balance being too generous or giving away way more than is necessary.Thoughts? 

The entry hallway (left to living room, straight to kitchen, right to private hallway leading to bedrooms and bathrooms) has tiles - same tiles as the ones in the  kitchen.  

They live in a building with two apartments, one up and one down.

., several missing railing spindles, a fist-sized hole in one wall, and new carpet for a small section of the living room).

I don't live in the city where it's located and don't think it burnt to the ground. 

I am proud to have achieved Super host status on Airbnb for the past year and have received hundreds of positive reviews across various platforms and through word of mouth.I am now looking to acquire additional properties in the Houston area to expand my rental portfolio.

The cash-out refi necessarily means thousands of dollars in additional expenses - likely setting you back further than you went forward in mortgage pay down during the same time period if refinancing in 1-2 years - but hopefully earning more equity in the meantime (fingers crossed).  

(i.e. have RE prices increased in the area, is there room for additional appreciation, how is the STR and LT rental market, any new housing or commercial developments?