I have found a property that is purchase price 73kMarket rent: $800My offer: 65kCash flow $100+ at 12% COC return3/2 1450 sqftready to move in (not turn-key) prior to purchase with no major  work needed to be done EXCEPT  future flooring due to cheap glue flooring in home. 

I know this is not uncommon, I hear it all the time although I cannot relate to that personally as luckily I had absolutely stellar experiences using several different agents for my deals prior to becoming a licensed agent myself.

I would call VRBO and discuss this with them prior to setting up your listing.  

The code is just changed prior to the next renter arriving at the property.

Either they have a lease that is ending and want to move or they are in a situation where the owner of the property has decided to sell the property vacant and started evictions prior to Covid 19. 

Also, some landlords like to cut back on expenses months prior to listing to help beef up the P&L, CAP rate, etc. 

I'm hoping an unexpected and unplanned for (prior to now) $40k will be easier to part with. 

He says they have no prior evictions or criminal record.

Second inspection three months prior to lease expiration.

He had locked the loan and started the refi PRIOR to coronavirus, they applied the new rule retroactively to him.