Option #3 you provided - offering a concession such as a lease extension or upgrades to the house in exchange for new lease terms.

As things come up that the lease doesn’t cover, I end up modifying things for the next tenant or on lease extensions.  

It's been asked and corrected extensively. 

This involves extensive dirt grading work and retaining walls (with railings sometimes) which together are very expensive.

They don’t.In 2005, I did extensive research on the various tenant segments in Las Vegas.

We review operators extensively, stress test the assumptions, dig into their past deals, compare realized vs projected returns, evaluate their communication style, and look closely at how they handled challenges.Our model is a bit different because we do it together as a Club.

Do NOT ignore this issue, but also be reasonable about it.Bring it up to the tenant and just ask that they don't do it again.Check your lease and if it requires the property be returned in same or better condition, point this out to the tenant that they may have to restore the bathroom or be charged the cost of doing so when they move out.You could also "trade" the lease violation for a lease extension.

Agents and investors told me it would never sell:• too close to the tracks• too much work• wrong buyerI explored everything—partnering, flat-fee MLS, novation, creative exits.I negotiated a contract extension.

It's a combination now, but the biggest killer is labor costs and timeline extension.

Paying 5 points for a 3 month extension is wild.