Does she pay her rent on time, if so I would just give her some time and see if it's just a rough patch. 

Don't think just because you're putting in nicer countertops and cabinets that renters or buyers will be willing to pay for that.  

My advice is to speak to a few local HMLs and ask them for their rehab estimate spreadsheet, which most should be happy to provide.FWIW, based on my assumptions above, you can’t pay more than around $480k for this property.

If a major repair is needed in the community and they can't fund it, they can call on the owners to pay for it. 

Each guest pays $29-49 depending on property size and that provides up to $1,000-2000 in damage protection in lieu of security deposit to satisfy the owner and avoid deposits. 

I am considering this spring to be proactive and put out a note about proper installation of window units this spring that will coordinate with a letter about their spring inspection.    

The str will close before the land sells and then I would like to recast the loan to pay off a portion with the land proceeds.  

Issue with the line that you will run into is you will be paying for unused credit fees.

@Imdhadur RahmanBest I’ve seen is 15% down, and you pay more in rate as a result of the down payment.

If you buy that location you’re paying someone $1mm to develop it for you.