@David Travieso first check state and local landlord tenant laws because you may be required to provide lodging or possibly just reimburse days not available, if damage was not caused by them.

I did everything.....except provide the money. 

It will help you read the law, gives practical advice on how to manage, and provides some sample forms.

My goal is to make a well-informed decision that not only helps with my mortgage but also provides quality housing options for locals or students in the area.Thanks in advance for your help!

I appreciate any factual guidance the community can provide.

@Kasim RashidBased on what you provided it seems like you bought the foreclosure on the firstNow what is not on that report is any water sewer or utility liens or potential code violations which could attach to the propertyI recommend before bidding at foreclosure to do your due diligence and home work

But I also provide full management for a couple of others for 10-20% depending on minimum length of stay (since 30+ day stays require much less work for guest changeovers). 

“If an individual is part of a high-deductible health care plan, making a contribution into their health savings account would also reduce taxable income.”Donation to a Qualified Charitable OrganizationCharitably inclined individuals might consider donating cash or appreciated property to a qualified charitable organization, potentially providing a tax deduction to help offset that tax year’s taxable income.

A true entertainer in all respects.I enjoy reading the viewpoints this far.

To provide a bit more context:- the first floor is a parking garage with concrete block walls and stucco siding- the second floor - the first habitable floor) is having significant water seep into the back wall (stick framing, stucco siding).