You have a duty to be efficient, otherwise he could claim that it took 73+ days to rent simply because you dragged your feet after receiving his move out notice.Read your own lease, and if the tenant is required by your lease to cover the costs, I would inform the tenant, also in writing, that you "accept the offer of 2 months rent, in advance, as escrow for breach", and that "tenant shall be responsible for any additional re-rental costs; tenant shall receive a pro-rated refund if the unit is re-rented in less than 2 months."

I'm sure you appreciate that he's taking good care of the house and doing small improvements, but as you said your costs are going up and you shouldn't be expected to supplement his living there.  

It all depends on location and quality of the golf course.One of the great aspects of a golf course in terms of depreciation, is that a very large portion (sometimes up to 60-80%) is actually land improvements, which depreciate over 15 years as opposed to 39 years.

We cleaned up the property while living there and made some improvements What was the outcome?

We did a few repairs and improved the yard as we lived there for just over 2 years.

According to the Home Owners Protection Act of 1998 Summary, "Borrower-Requested Cancellation Based on the Mortgage’s current UPB and the current value, the LTV ratio must be: *75% or less, with at least 2 years, but less than 5 years, having elapsed since the Origination Date of the Mortgage; OR *80% or less, with either:     -At least 5 years having elapsed since the Origination Date of the Mortgage; OR     -No required minimum period having elapsed since the Origination Date of the Mortgage, if substantial improvements to the Mortgaged Premises have increased the market value of the Mortgaged Premises since the Origination Date of the Mortgage"

Otherwise, you are going to get a ton of tenant complaints, increase vacancy, and increase damage to your buildings as well as tenant's vehicles.If you want to see my point in person, as the weather improves, go to a boat launch ramp and watch how many people can actually back there boat into the water like they know what they are doing. 

My next purchase will probably be in 2 or 3 years of a larger house for my growing family, with the plan of renting out and possibly improving on our current residence (at a tax advantage as it will have been over 2 years that we will have lived there). 

@Ravonne Evans, yes you need to improve the value substantially for it to make sense.

My goal is to help someone get their first deal done quicker and more efficiently than I did—I hope this article helps!