Good luck.

Guest takes more care of the property, since you,  the host, are the only judge to decide if you retain or not the deposit in case of damage or issues.Another Good: You can write in your contract that non respect of rules may lead to lose some of the deposit: Like noise, or a very unclean check out, etc...

She is alive and well, and hopefully will stay that way for as long as possible.

Is it good idea to give 60 days notice to this tenant?

Why do you think purchase contracts are so long and have such small print?

So, you would want to have a plan ideally BEFORE you buy the property if pulling cash out is part of the long term plan. 

The good news?

I've done over 75 flips in the past 3 years, we manage 300+ doors, and I own 28 long term rentals. 

I do have liability umbrella insurance, but I want to set up a better business structure for long term growth the correct way.

First off, they shouldn't have been Replacing a roof if there's a good chance of storms coming through that day!