Hopefully, the tenant takes the hint after today’s conversation, but if not, you’ve got a solid plan.

When considering a vacation rental property, it’s essential to have a backup plan and understand the numbers for annual leasing.

Only thing better would be initial deposit and then paid in full upon Certificate of Occupancy and punchlist complete.Of course, standard items should also be checked: licensed, insured, willing and able to pull all required permits, reference checks.I would also commonly avoid the cheapest bid you get.  

@Jaycee Greene is pointing out that we need to be specific when we are planning to meet with people.

You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%.

I would plan on paying for the project out of pocket.

When i press on the cracked areas, it does not appear soft or wet.I plan to fix it, but I worry it may reappear in months.

Quote from @Jorge Torres: Hey @Isaac Terry, My question for you is: Are you planning to buy and manage the property yourself?

Feel free to use this template:RE: RenewalDear Tenant:With the increased cost of taxes, insurance, maintenance, and other incidentals we are required to increase your monthly rent.

I don't plan on going on the actual auctions :/.