Since 2020 we've seen large asset value increases and large tax increases, and more modest insurance increases but we've been able to improve our profit margins sufficiently to keep up with inflation and even do a little better in many cases.

In a situation where you were doing an arbitrage (renting it from the owner, then yourself re-renting it to someone else) your costs to renovate/fix it up while you're using it would be able to be capitalized and depreciated by you once your rental was in service (available for rent to others). 

There are lawyers and services you can hire to do this for you.

--reach out and thank them upon getting the booking and ask if they have any questions--send a "Welcome" email or automated message during the week prior to arrival--reach out the day after arrival to ask how everything was the first night and ask if there is anything that the property needs--reach out at the end of the stay (that morning or within 24 hours) and ask how everything was, anything to improve, anything to add to the house and then offer an incentive for returning guests.My 2 cents,Mike Absolutely stay in your place as Mike said.You will see things the cleaners will never let you know about.We stayed in our PF will putting up the Christmas decorations and found a cracked plastic shelf in the fridge. 

Yes, my banks require a 1.2 DSCR debt service coverage ratio, meaning they want to see rent 20% higher than the mortgage payment.

I am not acting in an agents role as I am providing the service to help the owners sell their assets, while enabling the buyer to acquire cashflow positive deals that banks are not providing with current rates.

There may be requirements to cover the trash service depending on the town.My first commercial loan was 30% down, 20 year term (adjusting after the first 5 years). 

Quote from @Aaron Kuehmichel: When the tenant requests an improvement, it's OK to say no.

The cash flow improves quickly, but the cash flow is so negative on retail purchases that it will take years to reach cash neutral.  

But around here some of the screening services that claim to do background checks do a lousy job of it.