This was my backup plan as well but after the conversation with the PM, I was a little unsure of what I could legally ask the tenant to provide.

However, I believe it is important to have sufficient reserves and backup plans for whatever occurs (examples include pandemic, STR regulations, a recession, etc., basically be a good Scout and be prepared).Good luck

@Robert Gilstrap is a great guy, has a ton of experience and does arbitrage well but he has a huge portfolio to back up any problems with occupancy or changes to regs that would cancel out doing STR's.Do you have a large bit of cash backing you up in case your place has to stop doing STR's?

As the seller, I often require buyer's to double app with my preferred lender so if there are any hiccups, I simply move the back up lender in and it does not have to start the clock all over from the beginning.

It’s also possible that rather than fall, prices stagnate and we see no/low appreciation until wages catch back up with cost of living. 2.) 

Take Earnest Money as liquidated damagesFire agent.They should have you stacked with back up offers (RFR is what it is called here--basically notifying market that you have an accepted offer but you want backups in case they flake or fail)

Have seen situations where lower budget construction has gas fireplace with back up baseboard but people primarily use fireplace down to heat whole place including upstairs.Property is a higher end rental.

Currently I'm renting the same building for $505.06 due to the roof is leaking, it is currently involved in a lawsuit with the roofer as he did such a bad job that it caused me to take a $700 decrease in rent for now.I have a deal that has presented itself to me that I can obtain a 3br 2 ba, 2 story house with a tenant that has been in it for 4 years, rent is paying $750 a month and a purchase price of $75,000.00.My question is should I look at getting financing to get the commercial building roof fixed so that rent can come back up to $1,200.00 or try to get financing for the residential house with that tenant.My initial thought is to get financing to purchase the residential house and wait for the lawsuit to clear before fixing that up.

I like this mini split option because not only is it a back up buy it also gives them air conditioning.

I've talked to the local appliance shop that it was purchased from and they said it is more than likely caused from misuse or incorrect care there examples were dropping some thing, sudden change of temp by placing a cold pan on a hot burner, overheating the glass, ect.