There is typically a little more regulation with what can and can't be done in certain town homes.

Tenants that do this sort of thing typically have done it many times in the past.

More often that not, the PHA section 8 voucher can get you rents that exceed the typical market rental amount in the area.

While I’d prefer a long term renewal, I wondered how you typically determine a month-to-month rate if the tenant decides to go that route? 

Its an online service that covers listing and advertising, rent collection and maintenance dispatch for a monthly subscription fee. 

A discounted PM means discounted services or lack thereof.

If you want to provide proper notice (ie: you don't get a response from a txt) that proper notice in Washington state requires that a notice be "served" Guidelines here: (also keep in mind that date of service is day zero)How to serve a notice1.

I would also talk with a flex-space builder/GC to understand their typical costs?  

And help or suggestions would be appreciated. thanks Typically a local investor will have a neighborhood grade map they use and will share with you.

I've always self funded so I'm not familiar with how these deals are typically structured.