Now there are features and benefits that need to be accounted for when placing a value on the property, and also the price per pound discount for buying larger units, but at the end of the day you can use the small "units" to get an idea of economic value (average price per unit based on CAP) for the larger building you are looking at rehabbing.

Do I now allow her to stay without a lease for an extra 1.5 months or do I tell her to pound sand, rerent it for more, and move on? 

Admittedly, I stopped reading this thread several posts back .... but personally, I would tell the tenant " to go pound sand!

So,sarcasm which is what it sounds like in your responses is unwanted!

After pounding the payment,negotiating with owners and being told "NO, Not interested"100 times, On the 101st time we got a motivated seller.

Thus, they can tell you to go pound sand.

He's been a very good renter, nice guy, and the rent I get from him is very good, so I try to keep him happy but I'm concerned about structural problems if he's pounding away at the bag everyday.

It forces people to look at it regularly and be rewarded for progress mentally,,,,more than just buying a gym membership drops 30 pounds overnite(in peoples dreams),,,its easier to NOT do it than do it,,,unless your committed 24/7/365 Thanks for the GREAT info as always!!

Your statement shows that while you learned "a ton", there's still another few pounds to learn ;)   The real estate professional status allows you to use net losses from your rental properties against your other income, including your construction income.

You don't want to be penny wise and pound foolish.