@Pat Saperstein when we did STR's, we used an abbreviated lease, guests cold sign electronically.If we were to do MTR's, we'd use our full lease.You could send an eviction notice that coincides with their MoveOut Date to minimize your exposure.

What happens if there are issues or delays with repairs?

Send me a private Dm, my boss is a contractor in the area, we might be able to help.One caveat I will say is that cost to build is a little higher with materials and delays right now so double-check your budget from your contractor.

@Bryce RichardsI’d be more concerned how you’re going to make money on that dealWith continuous delays in construction and supply chain issues, this project could get very very expensive

Apologize for the delay, send them a $50 gift card to a local restaurant and tell them you hope they enjoy the new bathroom. 

I was able to arrange the funds to buy it all cash from a private lender so the closing costs were minimal.

Mid-term rentals come with a much higher predictability, there's huge demand for them in the Cape Coral area, and you can minimize the wear on your property with lower turnover.

Don't delay. 

The basic process is illustrated below.To keep this post in a reasonable length I will focus only on the first 5 steps, which if done well will make the remaining steps minimal effort on you.Define Your Goals and Resources"If you don't know where you are going, you might wind up someplace else." ...Yogi BerraWithout defining your goals, it will be hard to know where to start the journey and to see whether you can reach your goals.

They were thrilled they were getting a good deal on a brand new luxury apt, and I was thrilled I can start the next renovation without any delay.