IMHO your helping her find a place isn't a good business decision.

@Matthew Kinch Curious your decision to hold onto this via refi vs selling it and roll into 1031 (pre-COVID)?

Kudos for the HELOC decision.

@Gokhan Cukurova - your ultimate end goals are going to drive this decision.  

Even if you're able to prove in the small court that there was misrepresentation or some other sin committed by the seller and/or his agent, and the court sides with you, the real problem is how will you enforce the court's favorable decision?

Sorry for the ignorance, I just want to make sure i'm making the right decision.

The decision on month-to-month vs 12 months is completely dependent on the market drivers in YOUR area.

But sometimes you have specific questions you want to sit down with someone local for an hour to help with your decisions, validate what you do or decide if you should go right or left.

My job for this investor (who is an agent and interior designer) was serving as an analyst, constructing proformas, consulting on my opinion on macroeconomic markets and outlooks for real estate, consulting on microfinancial decisions (I am an Economics major with a specialization in International Macro-Finance & Econometrics), and managing day to day duties of rehabs on site.

All off the decision to work through lunch breaks and sacrifice weekends.