So I'd be doing my best to get the highest possible rent/revenue but without needing or counting on that.What you refer as cut-throat competition exists in every market where you have demand.

Lease options are the vehicle of choice here, until I sort out how to get to the other side of the ceiling imposed by debt to income ratio.

This post is intended to be a response to your list as well as a reference for myself in the future!!

The owner of the property I purchased is litigious in that they have filed a number of frivolous law suits in reference to the property. 

Bonus points if they can refer you to reputable contractors in the area. 

I believe these are the ones you are referring to.

Does anyone have specific reference that gives clarity to this situation?

So depending on what you want buying a business might be the better choice for you. 

Under the same scenario, a GP with a fixed percent return would probably make the choice to sell and take profits because they would see the 20/80 decision as a bad bet. 

What flooring choices are best bang for buck in each area of the house?