In this case, we tell the tenants we have two requirements, one as long as we don't hear complaints and the grass doesn't touch the house that become a liability for the building, and at the end of the lease they turnover the property with the landscape in the same condition as how they moved in, then however they want to maintain the lawn to maintain that standard, we don't care.

The one product that will absorb well will be single family homes geared to the young families who are having trouble buying due to market condition and need more space.

Maybe, maybe notYou have to weight the pros / cons along with the risks.Your BP mentions you are 'new to real estate'.You are getting into a new asset class along with a business(I consider a STR more of a business than an investment).How much will you save in taxes?

If the house did, you can get out of the contract if the house is not in substantially the same condition as when you went under contract.

I am a high-wealth earner with years of employment ahead for me, so I will not feel the weight of this loss other than shame on me for not appreciating this risk better before committing.

Or would I be wiser to wait until I have a 9-5 post college and just enjoy these years and hope market conditions become more favorable?

You don’t have to skimp on the neighborhood or the quality of the house, but if it is a nice little 3/1 or 3/2 single family home in nice condition with no deferred maintenance, then your chance of making a mistake or getting hurt financially while you learn is limited.

The last month's rent will be spent, then you have $1,000 on reserve to ensure they return the property in good condition.

You could say something like: - “Given the unique nature of this property and the current market conditions, have you considered seller financing?

External is usually where they want to approve the color of the house, types of materials, roofing, landscaping, driveway condition, etc.