One that I'm getting close (hopefully) to the end of, was a flip that was a public nuisance property with two lots on either side full of junk (like 10 dumpsters worth..)There was great opportunity with the house, but we bought the other lots as well and cleaned them up (as no one would ever buy the house with those lots filled with junk). 

. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

Put language in your lease about use of the screen for all fires.I always made it the tenant's responsibility to have the chimney cleaned at least once per year for the built in fireplaces and twice per year for the store bought types as they have smaller chimney piping.  

Such as accounting clean-ups, KPI analysis, etc.Gianma - happy to hearHello @Matt Bontrager I currently have a tax file open with your company.

STR management is 20-25% (I would recommend self managing or getting a VA), since income is higher you could probably get away with 5% for maintenance / cap ex but remember you need to cover utilities and cleaning for these units which drives up costs.

If you are kinda tech savvy and a DIY guy, you could build one yourself.

We could have saved some money starting to clean up the property if we had only checked in with the neighbors first.

STRs also avoid automatic classification as passive if rented for seven days or fewer per tenant.To maximize tax benefits, maintain detailed logs of all hours worked on activities like tenant communication, cleaning, maintenance, and marketing.

He recommended we do some work to move the outflow from nearby downspouts further away and then clean/reseal the interior wall.

You would expect a clean title at close so if there is some issue, then either it would be resolved by the seller or the deal would fall through.