If you put in an offer at 85% of list price on every decent home on mls in your targeted area, you're going to get a house or two that should only need cosmetic rehab - which you could control the costs better.  

Still expensive though.And why would you want to invest in a city with rent control?

That is just a one off report so before you spend a buck fiddy, it is a good idea to visit a couple TK operators in person first.

For instance, we stopped originating these three rehab programs and instead originate a construction loan on our balance sheet that we have complete control over.

Don't let it control you and I am glad you asked.You really don't want to rely on appreciation to make up for the poor performance as a STR.This is too much of a risk IMHO.

Things to consider1) Number of bedrooms / bathrooms / space for your tenants you can get for the $ you spend.

Would we be able to spend $1k in aquisition costs to get to that level?

However you do have a new government that seems committed to cutting costs, cutting defense spending, and getting us out of wartime efforts. 

Greene.Tenants should be responsible for ordinary pest control.

It's good to hear others are having success, but I would check if it works in your area before you spend the $150.I don't know if this would apply to you, but some folks think that FF works similarly to AirBnB or Vrbo where they will push resident requests to you.