Most deals in the current market are not going to be turn-key ready, so be prepared to do anything from a full gut renovation to some heavy aesthetic work to make it presentable.

I want to protect myself from any damages if they accidentally bump the garage door, or the other tenant's vehicle, but I also am not sure if it's accurate to use my regular tenant's lease, or if it's appropriate to ask for a security deposit.The spot is going for $200, and with my leases I normally ask for a security deposit equal to 1 months rent.I've heard of a storage space lease, but I don't want this to be used as storage as I cannot provide additional security beyond a door lock, working lights, and closed garage door that the tenants are responsible for closing. 

Just went through a pretty heavy renovation, plumbing, gas, electric, new tankless heaters, floors, paint inside, windows first floor, HVAC first floor.  

If this house costs you money, and your next house costs you money, how could you possibly spin either of these into investment vehicles?

Folks, if you're getting an off-market deal from a heavy-hitter and you don't have an established purchase history with them, question why YOU are getting presented this deal over someone else who they've worked with over 10+ deals.These days, with all the info on the internet, our job isn't so much about providing you with the listings, but rather the market knowledge.

I have receipts indicating furniture purchases and vehicle fuel purchases  in the area, but didn't log our time.

The conundrum is that the former tenants who lived in this property apparently left everything they owned behind, including two vehicles.

-Experience weighs heavy for HMLs. 

just put those funds in  a publicly traded vehicle like a reit or index funds and forget about it.. 

They are common vehicles in Michigan.