Flipping houses is ultra competitive.

Just cross out the parts of the new lease you don't agree with and sign and initial and date next to it.Have all tenants over 18 sign just like you did.In fact I would print name,sign name,initial and date for each area crossed out if you want to be ultra cautious.The landlord will have to agree,come back with a compromise,or get you out.They will have lost rent and reconditioning cost.So if you pay on time most likely they will not want to lose you over this.The fact that they overpaid for the house and are having a hard time covering the mortgage is NOT your problem as a tenant.You didn't hold their hand to the papers they signed at closing.Sounds like they put a bad tenant in and they trashed the place.You came along and the landlord barely had money to fix things.So see if they will keep the regular lease in place and don't get onto them too bad for too many more repairs.It sounds like they are headed to foreclosure or close to it as it is.no legal advice

For the amount of work involved that is an ultra low return.

Those using cash to purchase real estate do not prioritise returns so the question is  "what is their motivation to choose to invest in real estate" when the end result is buying, as opposed to , earning income/cash flow.Are they naïve investors, do they not understand the value of money, simply do not care or are they so far beyond their comfort zone that they are not capable of investing.Are there better options for ultra conservative personalities looking to hoard cash.

Some have even boasted the only thing they need is a drivers license. 

One state you might want to consider is Ohio, which boasts thriving cities like Columbus, Cincinnati, and Cleveland.

Don't know Michigan statutes, however if you're concerned that guy will continue to gripe, the ultra-safe, conservative approach is to hire a 3rd party to photograph and inventory each room's contents and have them remove and store off site.

Daniel,The Denver market can be trickier to find deals as we are experiencing an ultra seller's market which means homes are in high demand by residential buyers.

If you've been educating yourself don't feel shy about boasting your accomplishments. 

Fire races through them in minutes, and the walls and doors are ultra thin and so you cannot even use standard doors as the jambs are too wide.