Hariharan,I love what you are planning to do unfortunately no one can tell you the perfect plan for you it comes down to your comfort with debt and leverage its an emotional decision not math.   

My guess is the owner doesn't know or the pet is actually an emotional support animal.

Read up what "Fair Housing" has to say about emotional support animals.https://fairhousinginstitute.c...

But then, of course, you have to deal with lots of highly emotional people.

You likely bought this property on emotion, not on strictly dollars/cents.With this in mind, I spent too much on my house to ever turn it into a profitable investment.

If it is rent ready, I think I'm going to go for it.I will come back here with my thoughts after my daughter's report to ask for help with the offer.I know I shouldn't allow emotion but..I'm so excited!

Never let emotions sway you from being professional at all times.

I hope I attached the screenshot/ picture properly, if not here is the quote: " You can register your dog as an Emotional Support Animal for $65 and it will be illegal for any landlord to refuse rent to you"

I spent a lot of time thinking about what you said, whether or not this business is for me.I tend to be as analytical as possible when making decisions, especially when there is emotion involved. 

And when done right, this is a very rewarding business, financially and emotionally.