My other concern is that I get a place fixed up, only to have to wait until spring to get it rented out, which leaves the property vacant and a target for vandalism or squatting.Apologies for any ignorant stereotyping of the Midwest.  

Sounds like you would want a 203k as mentioned above.The key here is they are on the same tax parcel Source: I did this exact thing (minus rehab) in may 

That said, like @Matt Motil mentioned there are a lot of dues and costs to hanging your license. 

Then, you can just call them, no waiting for a mailer to reach them and hoping they call you back.When cold calling absentee owners from driving for dollars, I think what you have so far is fine.

There is a few month lag due to billing lag, waiting to see if the spike is consistent, then raising rent, but it works out in the end and I like knowing that the bills are paid.  

If you drive through Nashville you will see there is still a TON of opportunity waiting but there is also a lot of competition. 

Thanks for mentioning that. 

Also, I forgot to mention, I just found out there is a $1400 lean on the title, so who pays for that and is there a way around that?

I’ve gone through a blog ( http://www.avonlearenovations.com/blog/home-renova...tips-for-a-beautiful-bathroom/) related to bathroom renovation and there they mentioned about the sharing of space but I didn’t get it.

I offered her a 6 month lease and am waiting for a reply.