Invest the rest.Now you've got income, a primary residence situation that's crazy advantageous, a piece of rental real estate you can cut your teeth on, minimal or no personal debt, and some active working equity investments. 

The price reductions have been minimal, and the current listing price is $300K.

Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

They'll also probably want to see that you have some good reserves (like $50K) so that if you run into cost overrun or delays, you have cash to work it out.   

Be sure to add plenty of rugs to minimize damage.

While renovations faced delays, and initial rental demand was slower than anticipated due to construction setbacks at the casino, the property is now performing well as a long-term rental.

Arizona’s steady flow of out-of-state buyers and rental interest, along with its attractive tax environment, makes it a top choice for investors who prefer markets with minimal seasonal fluctuations.Southern California: Coastal Appeal with High DemandCalifornia as a whole can experience seasonality, especially in its northern regions.

However, if you lack the funds even for immediate repairs, you should weigh the cost of borrowing against the cost of delaying the work.2.

I am a brand new investor and landlord and want to minimize pain points as much as possible.

Apologies for the delay Ryan.