There are some that can walk into a house and right away determine how to fix it in such a way as to create, light,space and potentially add value. 

Washoe County on the NV side is pretty lightly regulated with no cap or density restrictions on STR permits. 

There is a ton more involved than BRRRRing a SFH - you have buying/developing, managing, operations, various softwares (RM, CRM), security (cameras, gates, lighting, signs, locks), lockouts...the list goes on.

Consequently, the lender cancels $75,000 of the landlord's debt.In light of this situation, the IRS Chief Counsel provides guidance indicating that the foreclosure constitutes a taxable disposition of a significant portion of the landlord's interest in the property.

It is challenging but we committed to going there every 4-6 weeks and having a great team on the ground ( will cost you some extra money) but they are the difference in having issueswe have one of the best cleaners in the area and our guy that cleans the grills does all my light maintenance and guest interaction if I need it(pets, too many guests etc.)3-4 hours would be a dream and you can definitely do it but you have to commit to going there every 4-5/6 weeks In my opinion because there will be things you need to address or upkeep- this is obviously only if you decide to self manage. 

and light fixtures!

@Joseph FirminThat’s pretty smart and a great way to keep the lights on.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

It needed a new roof, new septic tank, water heater, well pump, hardwood floor refinishing, light reno in kitchen (paint cabinets, replace countertops, 1 new appliance), full bathroom renovation on 2 bathrooms cleaning up wood rot on siding, painting exterior.

He sells them for tens of thousands a pop and generates revenue of over $1M a year and has no overhead except his electric bill in his basement for the lighting, a part time employee and of course the food.