Hi jenna,They will at a minimum maintain the asset value.If the paint or roof is to a point where it will allow the structure to become damaged they will pay to have it fixed.If the house is extremely high end they will pay to have the lights on all time or pay to have the windows boarded up to prevent damage and theft.I am aware of someone who used to be a general contractor for lender foreclosed SFH's and he said they would do certain repairs on the inside on some of them also.What's a "Full Reno" to one person might be something totally different to another.Without seeing the construction punch list you have no idea what's going to take place.Good Luck!

Quick and easy prevention method.

Nothing in the FHA requirements I'm aware of would prevent you from taking on roommates, if you desire. 

However, that doesn’t prevent you from applying it toward what they owe you. 

This prevents me from hearing last minute sob stories, it looks more professional and it helps in preventing me from getting screwed by professional tenants.  

Put the safety pin back in that prevents accidental discharge. 

If the unit has been inspected, but not deleaded, you also cannot do any construction or remodeling in the unit, they consider that unauthorized deleading and it will prevent you from ever getting a lead cert.

Is there something specific in the contract that I should look out for that’s would prevent me from assigning my rights?

It could be the rules in the area that prevent it from being a STR.

@Nathan G.