Scenario 1 is an increase in price based on my long-term model.

This should happen as close as you can get it to when they move in, but it's OK if it happens 3 or 4 days before.If you don't already have them, write down the model and serial numbers of all the appliances. 

You will have to figure out if your cabin business model falls under Schedule C/E filing and then you have to figure out if you are Active/Passive investor. 

@Chris Harn this really depends on your business model.

Is it possible that one of the offers that were going back and forth had some sort of "Time Is Of Essence" provision stating that unless the offer was formally rejected within a certain time limit (week, day, hour)  by a certain method (1st class mail, hand delivery, carrier pigeon) that the offer would be considered accepted?

These numbers are totally a model, but you can evaluate each component based on the relative risk in your situation.Regarding eviction, I would recommend starting it sooner rather than later, especially with inherited tenants, who will challenge you until you demonstrate control of the property. 

@Erik Whiting  its a great model for the buy and hold landlord that does it all themselves.. its just a business your business is low end rentals.. 

But all in all the model should work, assuming the purchase price was right?

@Garth MackendelHere are two models I’ve used in the past:1% rent method.

It's part of our model.