You'll get a full spectrum of perspectives, good and bad. 

Of course I know this is business and I have to put my feeling asideI guess what Im looking for is some words of advice from seasoned investors who have dealt with similar situations and to help me get a different perspective on how to approach this mentally and see it more intuitively than emotionally.

You will likely give up $10's of thousands of dollars by doing so.Once it is vacant, make minor repairs to ensure everything is neat and functional, give it a fresh coat of interior paint, then polish everything including the windows!

Hi All - I am looking for perspectives on my options that might help me decide my next steps.

Replace all the carpet with vinyl flooring, fresh coat of paint and find a tenant where the parents pay the rent.  

I appreciate your perspective on the lead time to fill the vacancy.

It sounds much more swampy then I though from your perspective. luckily, I do have a guy that can mentor me so the process might not be the quickest but it will be cautious.

Doesn't quite smell like they smoked directly in there but mild smoke smell with more B.O. smell than anything.I know paint is usually considered "wear and tear" from a security deposit perspective.

It depends on what sort of deals you are targeting and what return metric you are looking at.These are a few rule of thumbs I like to follow to determine a good deal, from a return perspective, to LP's:IRR: 17%+Equity Multiple: 2X over 5 yr hold, 3X over 10 yr holdAverage Cash on Cash: 10%+

That may also make the lending scenario a bit cleaner from a lending perspective, and it would give you two properties to leverage against, should you want to sell one to shore of up capital in the future.