If you do proceed with an ARV-dependent strategy, it's advisable to be very conservative with your financial models, and to have multiple alternative exit strategies in case you don't hit your ARV.Good luck out there!

I would just advise that you spend time monthly watching business travel trends and watch as this type of rental option is getting more crowded so that you don't get caught with rentals that sit empty.  

Please advise

Unless it was a very minor fire, confined primarily to a stove top area or similar, I would advise the tenant it is not habitable and they will need to relocate within a specific time frame per local law, and that rent effectively stopped the day of the fire.

We have a rental home managed by a local management company in Houston. We just found out that current tenant is not someone that they had sent me for approval and they have not deposited rents that they are collectin...

I took a little heartbroken breath from studying real estate investing after I was advised to move out of LA.

I would imagine other BP folks have gone through this situation before and they may have some advise based on their experience.

However, it looks like you might be able to consider him a holdover tenant, and advise him that he/they are subject to double rent until they vacate and turn over keys, on a pro-rated basis.

If you're curious, in the case of my current prospect, it's worth 125k, needs 35k+ rehabbing (haven't site-walked nor inspected), there's an option to build on the property with Seller advising that he's talked with other investors in the past and would rather build and somehow share in the profit.  

@Victor Lee@Upen Patel is someone who has been around for a long time and can advise as well as tell you what products they have