I'm not sure if becoming an agent will fit what you're looking for.

So to the extent that this is accurate, make sure it fits with your goals, too.There are no definitive guidelines because there are too many ways to skin the cat, and too many goals you may have while doing it.

If you are very aggressive and only care about getting the money you invested into the property back, the ACV coverage would likely fit your needs. 

Speak with a lender regarding different loan programs that can fit your financial situation. i.e. stated income loans.3.

@Dejuan CallowayLocation is everything on a deal of this size.Create a JV with someone with the right fit for your direction 

I would try to make one of those reasons fit as a disqualifier so you're doing it legally 

Whereas I' thought about water efficient toilets, and aerator faucet and shower fittings, any input on these?

None of those behaviors fit my definition of sweet or cooperative.Here's what I would do if I were in your shoes: if you haven't already served written notice, it's too late for January and you'll have to be satisfied with terminating their lease at the end of February.  

No reserves, so it went back to the bank.Connect with your local investors, learn a bit more about your market, figure out where you are and what the of investment best fits you needs, learn what a deal is, get a solid plan.

If you find a good one, it will help your situation which doesn’t fit in the bullseye of traditional mortgage.