My situation is that my STR averages less than 7 days, I have material non-passive participation, so that I qualify for the "loophole". 

How are you guys selecting your contractors and materials to do a rehab.

As for the cost, you can make a kitchen look pretty amazing with a modest bump to your budget over baseline home cheapot materials. 

@Marc Shin "when the cat's away, the mice will play"Appropriate saying in regards to remote rehabs.As soon as most contractors figure out they aren't being properly managed because you aren't able to go to the jobsite regularly:1) They will take a long time to get things done2) Quality will suffer3) Highly likely to over-charge4) Highly likely to "create" more work for themselves5) Greater chance of billing you for work not done and materials they use on other jobsCan be done if you know what you're doing & have resources to check on them.Many are posting to ask an agent for contractors, but a PMC is usually a better choice.

I think it will swing back, but I doubt we're getting back to 2018 levels given the rise in asset prices, rise in construction costs, material costs, labor costs, etc. 

That is including cost of labor and materials.  

This individual will need to be on site at least 3 to 4 days a week to make sure the crew is working daily on your project, that the work is being completed properly and that materials are not being stolen by the contractor, his/her crew, or by night bandits.

We paid for the material.

Essentially billing myself as the worker to complete these tasks beyond material purchases.

3300-3600 labor and materials.