To be on solid footing if there were ever an issue to arise, you really have two options 1) collect rent and then since you are eliminating their use of the unit put them up somewhere 2) provide a credit or reduced rent for the days the unit is taken out of service. 

Solid down payment, 12 month lease with a fair price?

Depending on how hands-off you want to be there are a few solid Turnkey providers here in Memphis.

Plan ahead of time on how your renovations will be funded and have a solid scope of work so not a day or dollar is wasted on getting it done.  

@Olesea A.I hear it’s a solid market.

Grandview is a solid class C.

If there are no truly solid good deals (NOT what an agent tells you is a good deal), be patient and use the time to educate yourself. 

Do some research on the competitors in the area to see what they provide and what you can offer that separates you from the competition.A solid cleaning crew and a reliable handyman are the lifeblood of your business, so spend time finding the right people for these roles.Also look into pricing tools like beyond pricing or wheelhouse.

The back house has a solid crawl space.

I found the webinars very informative and a solid base to start up your Airbnb setup.