The building is older but the condition is all newer - and the appraiser was surprised - in her own words - of how nice it was on the inside compared to the exterior age.

I keep hearing bits and pieces about a rental strategy that is best called "Renting to the Disabled by the Room for Above Market Rent" that goes something like this: (1) Buy a house with as many legal bedrooms as you can that still has a decent sized common area, (2) rent it out to the relatively high functioning disabled crowd, (3) via some [unnamed] Government program the State pays above market rents for each of the tenets. (4) Send a house keeper 1-2 times per week to ensure the place stays clean and otherwise make sure there are no issues.The up side is: you get above market rent with a much higher than average tenant count.

My plan is to stay home with  my child to raise her.

Does that justify staying with the deal and handling the issues? 

And yes, I definitely know they were probably on their best behavior, although I was really surprised at the number of places I went to see where the tenants were really rude and not at all people I would want to rent to.   

I also have one for Cleveland, Ohio and am in production on one for Memphis and Indianapolis so stay tuned. 

You have to tell them because it affects their collateral Title should reveal the property is landlocked with no easements and that should start the questioning  If you want to continue to build a relationship with this bank you tell them now before they find out you’ve been keeping this bit of information to yourself You might be surprised When I worked at a bank we used to help people try to solve stuff like this all the time 

If you can stay with family, they may pay them a per day amount instead of paying for a hotel.

At this point, we want to move out the tenant and providing generous move out package - one month hotel stay, one month rent back, hold fee for next apartment etc, but the tenant is not -cooperating and also blackmailing us based on situation.

Good if they stay otherwise you will be getting a new tennat that can actually afford your property.