You need to start advertising the property and lining up potential tenants.Learn lessons from this and make sure to update your rules and regulations, your processes, ... etc going forward, so you can de-risk these types of situations earlier and better in the future.

HOA.....This is their job... why you pay dues/fees.... so the property is maintained and rules/regulations are enforced and if they dont, then legal action on your pat is needed. 

These loans aren't regulated like a conventional, FHA, and even non qm loans.

There are a lot of regulations and requirements for it.  

Primary residence loans that are not the usual product backed by the government are called "non qualified mortgages" aka non-qm.non-qm providers can be more creative like using bank statements instead of pay stubs, but I can't think of anyone that does not do income verification.

.- They likely have "boots on the ground" experience and knowledge of local labor costs, operational costs, rent potential, regulations, and property histories.- They can be a great check and sounding board on the financial projections and value add analyses that you do.Do you agree with this?

If you don't have that type of clause in your current lease, you'll want to add one for the future...in the meantime, consider telling the tenant that the space is not habitable until the problem is fixed, and that they are not required to pay rent for the period that the space is not habitable--during which time, they can stay in a hotel/air bnb etc. ...but, it also depends on your local laws/regulations on the issue--some areas might require you to provide a hotel; at the end of the day, you have to follow whatever the law says....Good luck!  

It helps to ensure that the project meets the necessary standards and regulations: A scope of work should include any necessary permits or approvals that are required for the project, as well as any relevant standards or regulations that must be followed.

@Jess White it is even better if you have a 457 (government) and the employer matches up to 4% of salary.

@Andrew Postell i plan on owner occupying it and I cant quality for any government loan so I have to go the non-QM loan way