I would withdraw my offer immediately and look for a new renter.

Single-family homes offer reliable rental demand, lower turnover rates, and the ability to benefit from property appreciation over time.

Here is what J Scott had to offer on Zuck's quaint alternative social media site. 

Hello,  I've been putting offers in on for my first rental property (single family homes out of an HOA).

I am here to find and BRRRR my first property then be dynamic about the next step seeing what options would be best from using the ARV money.

Needed some guidance on the fees for this kind of real estate and whether the offered pref and LP/GP split actually makes sense or is it too high/low?

I started offering the choice between the two about 8 years ago, now everyone chooses a move in fee. 

What kind of loans are these - seem like pretty solid options regardless - conventional loans?

The high vacancy rates in apartment properties in Memphis may be due to economic fluctuations and demographic shifts; however, they create a favorable environment for potential renters to find affordable housing and for rental owners to innovate and improve their offerings, ultimately contributing to a more dynamic and resilient housing market.

Wow, there are a lot of options on this thread.