Only thing you'll need to pay attention to is fully demising the unit with materials that have the proper fire retardancy.

and booked one today in fact  you pay 5 bucks more a night and that allows you to cancel within 24 hours of check in..

My lease agreements include how often grass needs cut, tenants paying for their own lightbulbs.

I am able to pay back the hard money loan and pay my contractors. and then rent out the home?

Quote from @Neil Warren: Hard money loans are at higher-interest rates and for shorter terms, meaning you will pay them back quickly, usually in 12 months or less.You should not borrow 100% of the purchase price.

I'd also talk to the current owner, so if they want, they can let the tenants in that unit know.Hopefully you are getting their deposits transferred to you (it is the tenants' money and you will have to pay it back in full when they go because you don't know the condition of the unit when they moved in). 

For the amount of amenities and what the fee pays for, do you think that it's too much? 

So I have an applicant who says she will pay 8 months rent upfront to get the house.

Also if a tenant doesn't pay what happens?  

A little bit about myself, I have a full time W-2 job that pays pretty well on the blue collar side.