Hello BiggerPockets community,Glad to be here!

That seems to be the least confusing way to do things.

@Gulliver Raza I paid an attorney a few thousand dollars to create an iron clad lease agreement a few years back, and then it became obsolete due to new disclosures being required etc.

Not enough information for anyone to determine what to do as this would be based on your financial situation, income, and personal choices along with not knowing anything about what you would build, what it is worth etc. 

Closing cost $9,989 While the $10,000 in closing costs appears to be high for a $68k loan, realize close to $3500 of it is taxes and prepaids.Of the $6,000 that are true closing costs, $2000 you can shop for  (which I do not think you will do better).

This is a smart way for house hackers to maximize income from properties that might not cash flow as well with traditional long-term tenants.

He is the Tampa Bay local expert and can be a valuable resource to you on your team! 

If they are interested in arbitrage they will work with a well-funded company like Sonder or Avant Stay or Marriott Apartment and can sign 50-100 + leases at a time.

In similar situations, it may be worth considering renting first and selling later when market conditions are more favorable.Finally, the importance of choosing the right agent is a valuable lesson.

If the letter remains unclaimed, then does the notice have to be handed off in person or can the tenant be notified through the rent payment app?