They didn't allow Air BnB , or to make it into a vacation rental .  

You can go thru Air, but he would likely want to do direct to save money.

I regularly buy 80-120 year old buildings and the biggest expense I’ve had that was not planned for was putting in a new larger hot water heater in a location where the old one wasn’t quite keeping up.

I am not sure what market your in but, something I've noticed here in Atlanta is that houses in the $200k-$400k range are still moving like hot cakes as well as the $600k-1m range are still moving.

Still a smaller % of transactions but market is not red hot. 

I'm just glad I was able to point it out to my clients before proceeding further, which could have led all parties into a sticky legal situation and me in hot water, like you mentioned. 

If you’re open to exploring different markets, Columbus, Ohio has been a really hot spot for both new construction and rentals because of the strong population and job growth, tons of companies expanding here like Intel, Amazon, Google, and Honda, and the numbers still make sense compared to most metros.

My 80% number was just pulled out of thin air but I wouldn't be surprised if it was in the ballpark.It's hard to quantify.

BUGETING, SLOW FLIP, OZ FUND.Then you could follow up with a book called DON'T BE LAZY, DRUGS ARE BAD, GET A JOB, DON'T MARRY A GUY THAT LIVES IN HIS PARENTS' BASEMENT, HOT GIRLS GENERALLY DON'T MAKE GOOD WIVES HELLS HOT TO. 

And prepare it as an air BNB for long term.