Prior to the bill’s passage, water suppliers were not required to properly file and record water liens.

As long as the seller financing is done properly.  

Don't consider using a basement unless it has egress windows, proper emergency exits.Smoke detectors in all bedrooms.Your neighbors may not appreciate your number of roommates so keep it on the down low, no yard parties or noisy stuff outdoors. 

Follow thru with proper notices, per your state landlord tenant laws, as others have noted she won't have funds more than likely to cover March.

I do not think you need a PM, you do need to learn how to better operate your business, I defiantly believe you should not renew this tenants lease in April and get a fresh start training a new tenant properly.

I've seen a few who keep a full time licensed plumber or electrician on hand, but that's pretty rare.In a properly run job, especially a large one, pretty much everyone on the job is a specialist.

Proper notifications can be made at the closing table.  

I feel I'm properly set up to start it, but here is what I struggle with that I'm not seeing. 1) What kind of interest are private money lenders charging in the onset?

The reality is that only 10% of tenants are actually bad so your odds of getting another good tenant is high, Chances of a bad one before screening is 10%, after proper screening probably 1% or less.$300 dollars may not seem like much but business does not operate based in building in unnecessary on going losses.

Then prepare to need more.Doing this properly will make your finish kick ***.