IMO opinion this would extend to resolving code violations as well, as these if left unaddressed could get the property condemned and demolished by the governing municipality. 

If they need more time, we can extend the closing date if necessary.

You might consider a penalty clause if the job extends over a certain period of time then the compensation is adjusted.  

My offerings are typically a 5 year hold with options to extend for up to two additional years.

I believe after repairs this home will sell for much more)The renovations would include: an extended and upgraded kitchen, combine 2 of the rooms to make one big master suite with walk in closet and and a master bathroom suite, adding a bathroom, uncovering and refinishing all of the original hardwood floors throughout the entire home, add on back screened in porch with an additional open deck off to the side, new fencing and landscaping, a new roof and some modernized upgrading to the additional rooms.

Any opinions between laptops and tablets?

Tenant is financially responsible for any property damage, injury, or disturbances the pet may cause or inflict and releases the Landlord from all liability.

So if you are ready you can borrow some of your family or friends money to start investing small, but DONT use all the $500k and over extend yourself when you dont know what you are doing.

Are your other projects negatively impacted if the completion schedule is extended on this one.Just think of it in terms of being a GC. 

So you have what appears to be the perfect property management arrangement.8% monthly feeno charge when the tenant moves and they re-lease the propertyno extra charges for anythingAnd you're STILL not happy?