The top chart below quickly shows you what the renovated, avg and distressed homes sell for in that area on a $/sf basis over time, so if you are estimating way over the top line, you instantly know something is off, maybe you have an outlier comp on your hands, etc.It doesn't have STR data, because any STR we build must also pencil as a LTR to avoid being upside down if it doesn't workout, so we use normal residential lease data when underwriting our rentals.As for forecasts on the market, I don't do any aside from the current Q trending % at the footer of the charts, and it's really just the current Q's average data/performance held constant and applied to the rest of the quarter (since not fully done with Q yet).

One more I can add is the note investor who thought that holding the note gave him the right to determine how the subject property was managed, with approval of tenants, leases, and maintenance contracts.  

Also it matters if there is also a lease up fee the PM will collect, look at your agreement. 

.: BRRRR have some items that flips do not (plus most of the flip items):- refi appraisals in my market are conservative.  

We're currently looking for ways to streamline supplies for cleaners (toiletries, towels, item replacements) and handle small handyman issues.

Quote from @Yemisi Dinkins: As a property owner, I would never sign a Master Lease because I would give up control of the property so someone else could profit from it.

My only guess is your CPA is thinking this is a rental, where you can depreciate certain items, and expense others against "this years" income.  

Meaning the at the end of the lease, the tenant has the option to buy (but not the obligation) whereas the seller has the obligation to sell if the the buyer chooses to buy (works just like selling stock options!)

There is no differential factor number, however, it will change if you are buying tenant occupied, if they are are going to be vacant at closing, if they are going to stay the full lease or you have to pay cash for keys.

You can definitely still write off mileage and many other items on your taxes without being in an LLC.