2) how flexible is your schedule?

If they don't they will have to pay that rent or you can seek a judgement against them. 

My main considerations are 1) this is a good tenant who always pays on time and never complains and 2) the increased rent at this point, though getting to be significant, would still take 4-5 years to cover the cost of renovation.Tangentially related question: when would you pay cash to renovate versus seek a renovation loan?

A sign of good faith, this amount consequently allows for additional time to seek financing.

Its in a mid-range property - a 4 BR duplex that we will seek about $2-$2.2k rent, hopefully a B+ property in a B market.  

If you are going to do this yourself and not a manager I would highly recommend you seek a local real estate attorney. 

Right now, the RE market is crazy, and having two gives you increased flexibility.

We can usually quote and generate a pre-qual letter within an hour of the request.Let me know if you're still in need or if you found what you were seeking!

I posted a post a while ago seeking investor friendly title companies as well.

I’m a young professional that would be seeking other young professionals but one of the bedrooms is 9.5x9.5 and there are only two designated parking spots with visitor spots nearby.