The previous owner financials showed average nightly rate of $176.

Yes, this whole situation is alarming and I suspect it will get much worse before it ever gets better (if ever).

It might be tedious, but it’s a wise investment of time to avoid potential mishaps.If you're a Microsoft office buff I'll email my spreadsheet it could be a valuable resource for others navigating similar situations.

Conduct thorough market research and financial analysis to ensure there's enough margin for profit after accounting for purchase price, renovation costs, and selling expenses.Types of Investing: In addition to fix and flip, consider other investment strategies such as buy and hold rentals, short-term vacation rentals, or wholesaling.

Rentals come back with issues when tenants move out just like foreclosures.It's never a great situation to take a property back.

Establish specific objectives for wealth building, financial independence, or passive income.

People participating are all over the rainbow in background, personality, strengths, financial position, family make up, and color. 

Many sellers will want EM as it shows them that your financially invested in the deal and that if you simply waste their time they will be somewhat compensated.If I were a seller I would NEVER not take EM. 

That said, this all depends entirely on your financial position, investment criteria, and what you consider a good deal. 

What does your lease say about this situation?