At the moment, I’m aggressively paying off a little debt using Dave Ramsey’s avalanche approach to ultimately lead me to a debt free start or 0 net worth.

(Pro tip: Don't try to sell fan apparel at a time when the team is in the midst of the worst 10-year streak in the 130-year history of the football program.

Although you need to have MORE than 1 month buffer.During renovating the unit there could be delays so allocate 1 month for that.By the time you market and lease the unit, factor in another 1 month for that.And worst case scenario, what if your current tenant does not move out as quickly as you thought or there are further delays in leasing the unit. 

I know I am over thinking and those tree are driving me crazy because I keep thinking worst case situation.  

- The bank can foreclose and take the property - but worst case scenario - you can overcome this by renting out the property and collecting rent that is greater than the payments + carrying costs, assuming you did the analysis on this and market rents are higher than carrying. 

Some of the "nicest" people and smooth talkers are the worst tenants once they secured the house.If the only one (!)

I think this could be on the list still.110 E Clarence St - This was the Bayview foreclosure that honestly is the worst house in a GREAT neighborhood.

The worst they can say is no. 

With your set up, you aren't going to get stellar applicants...... if you do, they will likely not be long term.You are going to have to pick the "best of the worst"..... don't expect much...... so far, the pickings are slim and raised giant rent flags

Finally, since the CAP rate at time of sale is so sensitive for IRR projections, I'm hearing various mitigation strategies for driving CAP rate lower or worst-case holding for awhile until sales conditions improve.