Let's break things down, hopefully, I am understanding everything correctly...Exit Strategy 1: Full Rehab and Rent IncreasePros:Higher ARV (After Repair Value): This strategy could potentially increase the property's value to $126,000, allowing for a higher cash-out refinance amount.Higher Rent: After the completion of the Scope of Work (SOW), the rent could be raised to $1,000, generating more monthly revenue.Long-Term Value: Completing a full rehab could increase the property's long-term value and appeal, making it more competitive in the market.Cons:Higher Initial Investment: The SOW budget is significantly higher at $15,750, requiring more cash upfront.Vacancy Risk: Asking the current renters to vacate for the rehab introduces the risk of vacancy and lost rental income during the renovation period.Longer Timeline: The rehab process and finding new tenants could extend the timeline before the property starts generating its anticipated cash flow.Exit Strategy 2: Minimal Repairs and Keeping Current RentersPros:Lower Initial Investment: With a SOW budget of just $2,500, this strategy requires less cash upfront.Quicker Turnaround: Completing minimal repairs and keeping the current tenants can significantly shorten the timeline to start generating cash flow.Reduced Vacancy Risk: By allowing the current tenants to stay, the property continues to generate income, avoiding the risks associated with vacancy.Cons:Lower ARV: This strategy results in a lower ARV of $110,000, which affects the cash-out refinance amount.Lower Rent Increase: The rent increase to $900 is less than what could be achieved with a full rehab.Future Repair Costs: Minimal repairs might not address all the property's needs, potentially leading to higher maintenance costs down the line.Financial Analysis:Cash Flow Considerations: Both strategies provide positive cash flow before reserves, with Strategy 1 generating $160 and Strategy 2 generating $148 monthly.

To handle it, use a special land development purchase agreement for the deal and be ready for a potentially longer closing process due to zoning complexities.

Focusing on learning the process and components of it.  

Then, move out, make the first place a rental, buy another and repeat.If you're really excited to grow, it's the same process but with house-hacking in Denver.

If they want to look at houses, they go to ZILLOW (I read that OVER 90% of buyers go to Zillow during the buying process.

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

I am hopeful we can use our experience to save us some time and money through the rehab process.

The best place to list your property for travel nurse and other healthcare professionals is nursesbnb because their method is secure to avoid all sketchiness and protect both parties along the process.

Second, if you can afford to lose $30k by not suing, then you can afford a few thousand more on a reasonable attorney to get the process started and see if you can collect some of what is owed.

The bookkeeper is supposed to get your finances in order to hand over to the CPA so it's a faster and less expensive process.