How challenging was the process?

The property has done quite well and has appreciated nicely over the last couple of years as I’ve gone through and improved things unit by unit.

It's all about the location, you might be able to buy a cheap house, but if it's in an area with nothing but other cheap houses and in an area that is "not desirable" you're not going to make much money on it, either in improvements or rent.

If we're all being honest (after having interacted with Clayton in this process), it is indisputable that Clayton abides by the "continuous improvement" principle: while one may never reach the point of perfection, that's no reason to settle for "good enough" but instead to constantly take a step back to find the areas in need of improvement and to implement improvements that move the experience closer and closer to the ever-elusive "perfect" state.

The only challenge is that I’d probably need to hire someone to manage it while I’m not there if I do an STR, right ?  

Note: I have not formally warned the tenant about any of these issues.I am seeking guidance and advice from the BiggerPockets community on how to navigate this challenging situation and successfully evict this tenant.Disclaimer: This is a complex situation, and I understand that legal advice is best obtained from a qualified attorney.

Challenges?

Pros include securing the desired property and strategic planning, while cons involve higher costs, financing challenges, and complexity.

I like the one that requires payments to be deposited in an escrow account:New York state law requires that consumers receive a written contract for home-improvement work that exceeds $500.

Challenges?