Typical renovations include:Cosmetic Updates: Painting, flooring, kitchen and bathroom upgrades, and landscaping.Structural Repairs: Fixing any underlying issues such as foundation repairs, plumbing, or electrical updates.Efficiency Improvements: Adding energy-efficient windows, new HVAC systems, and better insulation to increase the property's overall value.The goal of the rehab phase is to increase the property’s market value while making it an attractive place for tenants.

small portion" of profit is not worth the possible legal issues.

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.

I understand this is not a requirement, but I have never received a damaged unit from an inherited tenant or any legal issues.

I just learned that builders risk and liability insurance coverage can cease once a CO is issued for a new build.

@Daniel Hartz...it would have been easier for suggestions if you have posted the address so some of us could see if there's more equity than what is being stated.  

My manger does this all the time.He has an inspection done to verify all the maintenance issue and has someone video the property to verify all the marketing issues.

Most STR markets have seasonality, and there are untold issues in the future that will effect cashflow. 

I’d love to hear about the crime rates or any other issues (which we cannot guess from the online stats), and how easy or hard it is to find reliable tenants and property management companies.

Invoices go into the CC account the same as they would in the AP account and are attributed to the vendor who issues them.