Years ago my cousin worked for H&R Block part time.

All the right things wrong with it ( needs flooring and paint vs bad foundation and roof damage). 

Hi: New here as well as to real estate investing.  Very close yo my first deal (a lease option type deal) and very excited as well as very nervous.  How do you keep your sanity whike doing your first deal or just tryi...

My assumption is if she does not pay the contractual amounts above, she will be in breach and I keep the deposit in worst case scenario - but that leaves me on the hook for any damages, downtime, and finding a new tenant.I know the answer is there is probably nothing you can do (aside from sue her).  

Here is my situation: After extensive rodent damage to our carpets, our property manager indicated that they will be replacing the damaged carpets with vinyl plank.

"A certain property" can be 500sf or 5,000 sf and some could have damage or not.

Pull up any log cabin in Gatlinburg or anything within 2 blocks of the beach in Destin and I think you'd have a hard time finding a listing that's NOT doing more than 1% of purchase price in monthly gross.I bought a home in Southern Utah for $515k in March and one in Orlando for $568k in May and both do well over $10k/month gross easily and that is not counting taxes in that gross rev number. 

The paneling is is amazingly good condition - no gouges, splinters or even damage to the high gloss finish.The question is how dated does this make the house look? 

I've had almost zero hurricane / flood damage. 

This could protect you if there is damage done to the basement and neither tenant will take responsibility.