The plan is to put the rentals in SCH E of our joint return and file with TurboTax-We live in Florida-Leases under my wife's name, Airbnb app under my name, dedicated bank account for all rentals activity in the name of both-We have umbrella policy for liability protection for the rentals-We leverage some contractors (for example cleaning lady for the Airbnbs or lawn maintenance guy) that we pay >$600 for their services in a year and they are not our employees.

If the ARV has risen to $260k and you’re renting it out for $2900/month, you can likely qualify for a higher loan amount.Here are some key points to consider:Loan-to-Value (LTV): A typical DSCR refinance will allow you to borrow up to 75-80% of the property’s ARV, so for a $260k property, you might qualify for a loan of $195k to $208k, which could help pull out most or all of your original investment.Debt Service Coverage Ratio (DSCR): Since you're renting for $2900/month, the loan payment will need to be covered comfortably by that rent.

A complete overhaul of the kitchen and bathrooms, including cabinets, countertops, LVP flooring, electrical and plumbing fixtures.

You mean the water was so heavy that it cracked the floor joists and the entire floor and basement ceiling fell in?

A fresh coat of paint can do wonders along with cleaning the carpet or using something like rejuvenate on laminate floors.

We offer many of the same services as this agent, but we have no problem with investors flying to Detroit to check things out - we actually prefer it!

I understand credit enhancements and additional guarantors are sometimes required but to be unable to cover escrow funds and to give away deal ownership for that service is kind of crazy but back to the main point, the real issue is when the Co-GP is not truthful about their true role or embellishes their portfolio/ unit count. 

The license doesn't cost more, the service and quality does.And a note on that cost, in my experience hiring contractors, only a small percentage of the cost savings was due to finding the right guy who is willing to work for less.

There is a company names Hemlane that offers that "light PM" service that may be interesting for you instead of a full blow PM company that may cost 7-10% of revenues.

You'll probably get better service approaching it that way than hiring a professional manager anyway.