Usually after you pass over the keys, the landlord will take back ownership.

No, just 25 yrs of experience being involved in literally thousands of deals and watching realtors do things the wrong way or take shortcuts, loosing deal after deal for my borrowers is what has taught me what works best.Unfortunately, down here in FL, everybody and their mother has had or has a real estate lic. and too many think or lead their clients to think they know a lot more than they really do. 

I made a cash for keys agreement with the occupants to stay till JUne 30 2018.

Clarity is SO key (as I, and we all should be, continually re-telling myself/ourselves). 

Do you have experience renting remote vacation properties, and if so what is your experience and what are the key elements in your mind in making a great one. 

The Owner of the property is on board and I have spoken to both parties via phone.

I’ve had a really good experience with Brian Hartsell at key property in Henderson for years.

@Pauline Herschel Communication is key. 

The condo board wants the higher of 3% or $6000 as an alteration fee.

LOL.. and those folks don't post on BP.. on BP its all blue sky rentals are the way to financial freedom quit your day job.. live the life you deserve etc etc.. well for some for sure.. for many NOPE.. they are like why did I do that.. and they exit no matter the loss.now this is more prevelant in the lower value asset markets.. not all markets are like this.But I look at when I started hard money lending in 01 for turn key and I started in Detroit.. the homes there appraised at that time for 120 to 140 each rented for what they rent for today 800 to 900 in those days the .05% rule was fine.. we loan 80k as a HML .. well those homes tanked as you probably know many went down to less than 10k in value.. thankfully the 200 plus I did there I got refinanced out of them all. but you know long term lender lost their lunch and so did most of the investors in those days.I am not prediciting another major meltdown.. but even  break even is not a good position to be in with rental properties in my humble opinion the risk/reward and hassle factor just weights on you.. but I know I am in the VAST minority in my thinking.So my thought is you really need to get these things paid for and keep them forever.. but life happens and I would say 80% of people that have that thought process going in never make it past about 7 or 8 years.