If short term rentals excite you, make sure it can still work as a long term rental as well. 1.

We've recently come across what seems like a great investment property:- Tenant Occupied, paying FMR- Slab home that we will eventually remodel ourselves after the current tenants leave. - Only 4 houses down from my current home in metro Detroit, MI.We toured the property and it was a hot mess, easily a complete remodel because of cigarette smoke damage that seems to have reached every corner, but the prospect of redoing it really excites us.

You're paying retail again which I just don't like. 

Start by drafting a written agreement that includes all the terms, like the price, interest, and payment schedule.

Apparently there are some cities in LA County like Santa Monica and Inglewood which do not allow this.How do you check which cities allow/disallow SB 567 "just cause" eviction through "substantial remodels?"

Unless the lock was faulty, I would likely charge the tenant.

I would connect with @Taz Zettergren on Dallas as well as OKC, Memphis, Arkansas or Alabama.  

It can work in very limited situations like this one, where you are just trying to remove yourself from title, but there is absolutely no reason to do so instead of a special warranty deed. 

Hey @Nicholas FogalIt sounds like you’re at an interesting crossroads with both opportunities and decisions to make.

I’m a longtime investor and Realtor from the DC metro area as well-  BP is a terrific resource to help you grow both your investment portfolio and better support your investor clients!