Didn't expect that.  

Thank you @Deanna McCormick I am going to go ahead and waive the application fee I don't want to do anything too drastic but I want to screen them and adjust the lease and rent rate and give them the option to renew or not once I make them aware of the expected changes and timeframes.

., I would expect 25% down with (i believe) a 6 month expense reserve in "the bank". 

I have family in Fort Lauderdale, luckily didn't hit as bad there as initially expected.  

@Clayton Mobley I supposed I wouldn't expect an investor wanting out a few short years.

I would suggest looking online to see what's in your area for rent currently though so you can get an idea for the price point and quality of upgrades people expect.

First of all, when you rent properties, you have to expect that not everyone will keep the property as neat and clean as you would like them to.

I would expect them to be very helpful.

So, yes, technically your wife can count towards the occupation requirement, but it's geared more for military members PCS'ing or setting up a household in a new location before the veteran can occupy the home, or a member on tour in one of those unaccompanied "hardship" locations where families aren't welcome, or on deployment, not for a couple who live in the same major metropolitan area.  

The whole thing would be fascinating, the honey is likely delicious and if you can get somebody to film the whole process, you've got an amazing show on your hands.The renovations after the bees are gone will be incredibly messy and the vast majority of the drywall, if not all of it, is going to have to go.