I would leave her on the M2M and follow through with a proper 30 days notice when the time comes. 

It will need to meet all fire and safety codes per your local building codes.Done properly a secondary unit in a SFH is the best method to generate positive cash flow on a otherwise underperforming asset..  

As previously stated, proper tenant screening and management (online bill pay) will resolve most if not all the issues you assume "requires nerves of steel" before they even start.So to reiterate, your advice is to do nothing and pay $3500/mo plus living expenses on $30k PRETAX income.

Get a good contractor and factor in permits (the city knows it has had a fire) proper remediation and rehab. 

@Scott Voiers If you're gunning for the big stuff, amass capital equal to 30% of the big stuff purchase price, and ensure that your big stuff cash flow will cover monthly debt payments (DSCR).

If guests haven't said anything to me after 24 hours when they're at the cabin, I'll send them a quick message ensuring their comfort, which they seem to appreciate. 

They might not code the expenses properly or do not know how to maximize profit and have to constantly rely on a CPA.

The buying an additional primary in the fiances name would be the short term way of un-complicating things and ensuring we had a place to live IF the opportunity presents itself as I've been looking for 10 months and everything sells in 1 day for too much money so a plan B to fall back on doesn't seem like a bad idea.Please advise on how you'd recommend me to proceed in this situation @Stephanie P.

Thrya,Congrats, let me know if you need any assistance for the accounting aspect.First, put each property in its own LLC and open a bank account for each LLC.You do not need to create an LLC for Property Management, you can, but it's not necessary.You need to make sure you have the proper Chart of Accounts such as Assets, Liability, CapEx, OpEx, G&A Exp, and Equity.Chances are you will be putting the majority of the expenses under CapEx since you're renovating, once it becomes rental, the expenses will be OpEx.

The entire drainage system isn't functioning properly and it causes some staggering in the bathtub.