Paying off debt does not make you rich.You did not give enough information to assess whether adding a bath is the right choice, but let's assume you are correct.  

Tax (and often even zoning) designation don't change the comps for what it physically exists as.Is a residential appraiser telling you this, or are you basing this assessment only on your own understanding of these classifications? 

Assess if you have enough time for tasks like tenant screening and maintenance.Expertise: Professional managers know landlord-tenant laws and property maintenance best practices.Cost vs. benefit: Weigh management fees against potential savings and efficiencies professionals might offer.Property location: Distance from your home to the property matters.Number of units: More properties increase management complexity.Stress tolerance: Consider your comfort level with tenant interactions and problem-solving.Long-term goals: Professional management can free you to focus on expanding your real estate portfolio.

Is the house value assessed by Zillow based on as-is condition?

I need to figure out a base operating cost so I can consider this when I assess land purchase price, but I"m finding it very difficult to asses things like insurance, property tax, utilities etc. on something that isn't build yet.

MODERATOR: Its OK to assess interest in this forum, but any actual meeting notices must be posted only in the Real Estate Events and Happenings forum.

Is her assessment correct?

The lenders don't know what questions to ask, what due diligence to perform, or assess the risk they are agreeing to. 

Hi Greg, I spend a lot of time listening to STR podcasts and YouTubers and the consistent assessment is that quality design is pretty much a must. 

While some property owners choose to self-manage their rentals, there are compelling reasons to consider hiring a professional property management company:- Expertise and Experience: Property management companies have the knowledge and experience to effectively screen tenants, assess rental market trends, and handle maintenance and repair issues promptly.- Time Savings: Managing rental properties can be time-consuming, especially when handling tenant inquiries, maintenance requests, and lease renewals.