Hi - I’m relatively new to the real estate game and am just starting to read multiple books involving this topic.I noticed a house being cleaned up two weeks ago, talked to maintenance people, and was in the right place at the right time to talk to the owner.

A typical turnover can be a month or 2 of vacancy and $2-10k in make-ready costs (cleaning, paint, flooring, appliances, towel racks, vanities, etc. that gets beat up and broken norma wear and tear). 

With small homes you get quick and easy stays with fewer issues, cheaper cleaning fees, higher occupancy, and still great rates. 

Based on the prices that I charge for a similar return, assuming there were clean records provided and not a ton in the way of depreciable assets needing to be analyzed, then $3,000 is a bit much.

And STR is much more involved with high turnover rates so you’ll not only need to post the listing but know how to keep it competitive so that you maximize bookings, of course, furnishing it, keeping supplies, restocked, cleaning, maintenance, And what about consideration to any local STR rules and regulations?  

It isn't that hard to clean, but it does take more maintenance.

. - this leads to management inefficiencies and waste- you have to rely on other people's judgment- you have an overhead cost burden for doing things remoteIt is tough enough to organize a carpet & paint rehab remote (ask anyone who did it the first time), let alone a full-scale BRRRRR.

Our lender wanted clean financials or they wouldnt lend on the deal.

Are the properties being looked after and cleaned properly?

New LVP on first floor, new carpet upstairs.