Plus, you have to turn the unit over- paint, carpet, etc repairs?

I'd also look into property taxes and what is included with that $800 condo fee (that is really high though guessing it may include weekly cleaning). 

Additionally, in Co-Living the property manager walks the property once per month to deliver toilet paper & cleaning supplies (aka property inspection).

.: I haven't passed this past legal review so for what its worth: Part of my standard requirements for everyone include income is at least 3X rent, minimum credit score, say 640, Clean record and no evictions as well as deposit is paid in full at signing of lease and 1st month rent is paid in full prior to handing over the keys.

Luckily this apartment just needed touch up a cleaning.

I do however think as things clean up systematically, cashflow will improve and the benefits of low capX exposure in near term and appreciation will work out.

A clean, neutral-looking curb gives prospective homebuyers a chance to visualize their own additions/upgrades.

He does not want to deal with the headache of tenants cleaning or any thing to do with STR.

Your property is fairly destruction proof, costs near nothing to maintain, yet you can charge above market rents.If your property is nicer (class B) where the carpet alone might be $6k or more to replace when the tenant spills hair dye everywhere, you won't be as happy as in the situation above.  

The last time I stayed in one, I was charged a large cleaning fee and then met with a list of what to clean prior to us leaving.