With years of experience in this unique market, I've had the pleasure of working with a variety of investors, helping them maximize their returns while providing unforgettable experiences for guests.The Poconos has seen tremendous growth in the vacation rental market, thanks to its year-round appeal, driving proximity to major cities, affordable property prices, and diverse attractions.

Also, leaks cause damage to the drywall and other items.

Hi Daniel, you can still expense the following items out in 2023: travel, meals (50%), gardening, and tax consultation.

Make sure the home has quality furniture and items that don’t fall apart in a few years.

Sometimes the HOA can cover capital expenses like roof and exterior, so that can help cash flow as well, but the HOA might increase the dues when they have to pay for capital items.

I'm sure there may be plenty of other metrics we are not taking into account here and if so, please let us know what other critical items we should be looking at!

Plenty of job growth, plenty of population growth, diverse economy, newer homes, landlord friendly, and so many other factors. 

They will provide you with a list of items, do them.

If there are items you need to replace and they are less than $2,500, you can take advantage of the de minimis safe harbor election, which allows you to deduct those costs in the current year rather than capitalizing them.

Aside from the items that you already suggested, the only other thing you can use to verify the stated income is the seller's bank statements (not all sellers will release their bank statements, but some will).The expenses will vary a bit from owner to owner, so you're better off reaching out to a local property management company to get an understanding of how much things cost, unless you plan to self-manage the property.