The plan is to conduct mold inspection and remediation after the tenant moves out and then re-rent the property.

He's looking for a STR or rent by rooms while down there.

Will be renting through the year. 

One side is rented long term while I live in the other.

Any input on rents and whether my assumptions are accurate or not would be appreciated!

I have a vacation rental which it’s the off season and I accept rents at a lower rate.

Calculation of Gross Rental Yield, known as gross in the industry, is simply calculated by the rent and property price as shown below and is used to easily determine the profitability of a property.

Additionally, explore technology tools that streamline remote property management tasks, such as online rent collection platforms and smart home systems for monitoring.

I have a clause allowing 2 months rent free and $1000 a month rent for up to 4 additional months, thinking/hoping house prices will start to come down and buy then. 

Second, when doing flips you'll typically put each property in its own LLC.If you plan to scale rentals, you can have a Management LLC that acts as a PMC collecting rents and paying expenses via its bank accounts.