Your plan is still a solid one. 

My fear chasing the homebuyer is I have to kick a solid rent paying tenant out at lease end, probably do some make ready, then live without rent while marketing and hope the sale goes smoothly.

@John Edrisy welcome to BP and congrats on starting off with a solid post!

One of the key components is a solid insurance agent.  

Any deal that is solid with these terms should also be solid as a house hack. 

Maybe the BP knows the investors though and knows one can fix it and the other will not ever pull it together.The house has rotten wood, old termite damage, floor falling through, foundation issues, large hole in the roof, but the major issue is it was used to manufacture / cook meth. 

Be aware more fixes are very likely in a property built in 1965: big trees need trimming, wood siding needs replaced with hardiplank, electric update to code, etc.

But for 3 years it was the Sea Glass Cottage on VRBO and has a solid consistent rent roll of $3000+ per month.

Hi @Joel Arndt and @Frankie Woods, let me ponder it a bit - I relied heavily on @Ming Lim and the Volition Properties team as I was a condo owner and total noob.They have my numbers in a mini case study that maybe we can tidy up and share - as Ming said, there are only certain neighbourhoods where this makes sense.

But is it solid for students who will be jumping off them and doing keg stands.