If they leave, you rent at $1200, if they stay, they have an under-market place and you've cut your losses. 

I see a lawn in the back so I would factor in at least $50/month for the lawncare because someone is going to have to cut the grass. 

We strongly advise against the Kwikset Smartkey, while they are easy to rekey, we found they pose a safety risk due to the ease of being able to pick the locks.

Send them an addendum to the lease and tell them they are responsible to move it every 2 weeks while the grass is being cut, it must be taken down between October 1st and April 1st, you are not responsible for any injuries associated with it, etc.  

The Slight Edge (read the book by Jeff Olson).

@Joe Splitrock thank you for your clarification on the lease break, sounds like it hopefully will be a pretty cut and dry scenario as long as there was no communication between the property managment company and the tenants.

Even if you did get the possession order, if a tenant is injured because the electricity was cut off, you'd probably be liable.

If wallpaper was applied directly to unfinished sheet rock/drywall it may be cheaper to cut out the drywall and replace it. 

I’m looking to hear some thoughts on cutting back on my 401k in order to put more money towards my savings rate and invest it in real estate and other areas where it is accessible to me.

Contract every broker and you will get different listings and more choices.A higher number of units always gives you more cashflow plus a safety net for when 1 or 2 tenants move out and you still have cashflow to pay the mortgage.The more patience you have the more money you will earn.