I was thinking that they get paid the most when there is turnover, so has anyone been successful in crafting an agreement that rewards for:Tenant longevityShort vacancyKeeping repair costs down (I do want to address issues though)Dunno...

@Jason DiClemente   were you able to refinace it right after the rehab was done and the property was rented or do they have a seasoning period? 

VA has a new loan program that gives you some rehab money on top of the purchase price.  

Did you then send a demand letter itemized as to what is owed to you to the tenant at their last known address?

I just happened to click back on this thread.You mentioned estimating rehab costs.

Working towards acquiring my second property (long-term hold SFH or multifamily) and considering hard money loan programs for the purchase and rehab. 

The loan would be for the purchase and rehab needed. 

What is the best loan to pursue for Purchasing and Rehabbing?

All that said, this is a fairly hot market and a booming economy with plenty of homes in need of rehabs and renters.It's up to you, you could go 25 years with no storm, or get one a week after your first purchase.

Here's what I would do if I was in your situation:Google the property address and unit and see if any rental listings come up.