I sent her an email reminding her to pay the outstanding rent plus the late fee, and a move out letter spelling out all her responsibilities to clean up and return all the keys/misc.

Painted complete interior/exterior (mostly self, hired for some interior work), removed wallpaper (hired contractor), installed fixtures (self), installed new appliances (self), installed flooring throughout (hired contractor), and cleaned up and updated landscaping (self).

Once you get more experience you can look at City of Detroit properties with higher cashflow -- but also higher risks.You may want to follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...

oThe kicker is that, you only have 2 YEARS to unwind any deals that your IRA has already invested in or the entire account becomes taxable and you’ve lost all the benefits of having an IRA.oYou might need to sell your existing positions (at a DEEP discount) to get out of a deal before time runs out.

I cleaned the property and lot up and repaired the structure and it was not in as bad as shape as I originally thought.

@Pierre Preston Bigger Pockets does a deep due diligence on these lenders before they are allowed to sign contracts to be featured. 

The funds belong to the Tenant until the lease is terminated and then the funds can be applied towards unpaid rent, utilities, cleaning and repairs, or whatever else your law/lease allows.The same goes for prepaid rent.

Clean up, do repairs, secure, add exterior lighting, add cameras, add fencing, spend the money to ave your investment, whatever is needed to make the subject safer, desirable, and cost effective.

Core drill the bottom or jack hammer openings especially in the deep end, but throughout (must obtain drainage).  

It's best to have the funds go straight into a clean un-used bank account/ don't intermix with your primary checking account.