I personally own/live in a historic home and I can promise you this: it will cost you more - a lot more - to renovate and maintain the property. 

So, they could be correct or they could just be trolling for money, but you should have done final testing.

While the lease will most likely include maintaining the units themselves, these organizations are not going to manage it anywhere close to what you could and should do.

@Logan Allec is 100% correct, as usual.What your accountant missed is a checkbox in his software.

Hopefully you have the correct insurance in place etc.Hope this helps

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

Is that correct?

The other thing to note is most times Pref equity is pretty save assuming a 10-20% market correction but in 2021-2023 we saw a 30% correction meaning pref equity in deal specific deals were underwater without any options.

Asking in the correct forum will get a better response.Read the RULES!

Did you ask him to correct the issue?