Once you do this for a year or two and prove you know what you are doing and that it does in fact make his life better you can approach him about seller-financing.

That is not even enough to clear mortgage insurance requirements, so could prove difficult to pull cash out.HELOC is likely not an option either.

HELOCs may be more beneficial if you plan on repaying the loan within a few years.On the other hand, if you think it will take longer than a few years to repay, then it may prove more beneficial to do a cash-out refi at a lower interest rate, fixed, and spread out over a longer-term.Hope this helps,Alex Roter / Loan Advisor

Replacing what you earn/your lifestyle will take more time and effortFor me it was easy to replace minimum wage with rental income and flipping   My sister on the other hand, making probably around how much you make, proved impossible for her and she had to wait to retire until she was in her 60s    I, on the other hand was able to retire in my 40s because of a more modest lifestyle for you and most people the rental route is a long route.  

If you can prove it was working before they got there (pic) and you have a no trips to the property during stay policy in your house rules….. should be good.

Prove your worth to them and the past will fade away. 

Unless you somehow documented the break while the old tenants moved out it's going to be difficult to prove fault.

Those were so badly skewed by the pandemic that the studies are still in progress and available data is preliminary, at best.

Thank you for the help I'm very new to all of this been studying for a couple years but just now getting my feet wet with a single family and a multiplex 

A few years ago, we studied vacancy costs for the three major tenant pool segments in Las Vegas.