I'd use an approved underlayment.Pro Tip: If it's cheap, it's not good.....at least spend in the moderate range.

Boot includes any cash retained or the difference if the replacement property is of lower value than the relinquished property.

You might try corporate housing by owner, or try getting in contact with some insurance companies for replacement housing, or traveling work-crews, etc. 

If anyone has tips for tackling those first few deals, insights on balancing these strategies, or just wants to connect, I’d love to chat!

Good luck, and feel free to ask if you need more tips on tenant screening!

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

Welcome to the community and be ready for a huge amount of information at your finger tips.

The current owner has to dig the floor out and replace the floor to meet spec.  

Do you have tips for structuring short-term leases that protect me as a landlord while accommodating their needs?

It is surprisingly easy to manage out of state and if you want more tips on how, check out Bigger Pockets book "30 Day Stay" on Mid Term Rentals.