If it's the Madison area, I can provide a bit more detail. 

A simple one page option saying. 1) I understand because of your circumstances you’d like to lease  MTM.2) I don’t usually do MTM leases and it’s harder to lease my property in the “winter”3) because you’ve been such good tenants I’d be willing to make an exception for you at the rate of $x+$200 with the stipulation your provide more at least a 31 day notice to give me time to find a new tenant.

This is a very passive way of getting involved in real estate that provides fixed returns that are usually higher than the stock market.Those are a few ways to get involved in real estate in a more passive role. 

Keep in mind if you’re not a licensed agent this may be a little harder to do so I would find a local agent to help you, they could be a younger hungrier agent even.

It's usually 45-60 minutes instead of 15 however, and a local rep or property manager can be the "designated agent" who is required to respond to nuisance complaints within the given time period.

Experienced investors often have recommendations for lenders who still provide gap loans.

Since then the offer has expired listing agent has ghosted me with no response. 

@Haley ElisabethYou are not missing anything but there is what I would call good debt and bad debt.For example if I buy a property cash, rehab it and it has a $300,000 value and can be used as a rental and provide cash flow - getting a $150k loan on that asset to buy another (not blow it on toys) say $300k asset I have 2x future appreciation than one asset.

Which makes sense because I can still be in the same ballpark price wise as a hotel to pick up those 2 guest stays (presumably mostly couples, but not always), with the added value of everything a SFR provides. 

Here's a breakdown based on your examples:Carpet, Vinyl Flooring, New Toilet, New Vanity, New Tub: These items are typically considered assets because they are permanent improvements to the property that provide lasting benefits.Plumber Labor for remodel: Labor costs for installation or repairs are generally categorized separately from materials.