Over weekend, they messaged me saying they can't pay but will leave this Saturday (1/12/19) so they don't get eviction on record. 

Is it best to open a separate savings account, run some short term CDs, or just leave in business checking to write a check when ready?

We are good people who work hard for what we have and have made some mistakes, but losing our house would leave us completely destitute.

Do not leave anything open for interpretation and be as clear as you can be about all finishes, payment and deadlines• Have contracts in place outlining the scope, payment process and deadlinesDoing these things will help with your project and you will have less headaches during the rehab process. 

It is a great goal, but you are leaving a tremendous amount to chance for a small amount of income - things always go wrong and you need to be experienced to anticipate them and roll with the punches.I do wish you the best in your investing!

For example if the inheritance is in the form of a diversified stock portfolio consisting of blue chip stocks being managed by a trusted brokerage, she should leave it there and if anything divert dividend payments only to other investment vehicles she prefers or to pay off high interest debt, but not touch the principle.

We are looking to leave state once we reach this point.

If you only have one door generating income and a tenant leaves for whatever reason, then that property is considered 100% vacant until you find a replacement. 

After that, we send out an invoice for the late rent fee and leave it at that.

@Carrie Reyment, I'll leave the details of your question to those who have done some of those larger deals.