The extra cost is typically well worth the benefit. 

Good tenants do not typically apply for overpriced apartments.

A french drain typically costs around $25-$30 per linear foot.

I agree on the point of your investment is not guaranteed and never fall in love with the sticker price of the offering (ie returns), you really need to look under the hood on these dealsBut active investing is not for everyone and if you do not have the time to manage your active investments, it’s not like the stock market where you have as good a chance to return on your portfolio doing nothing than hiring a manager - if you do not have the time nor ability it typically will not end well.

Typical rehabs I'm looking at in TB are looking like 250-300 purchase with renovations costing around 40-60k.  

It was very difficult for us to find a bank to refinance the deal and also difficult for us to procure a buyer for the condos we didn't want.The cap rates typically traded higher than a simple ownership interest. 

Additionally, I'm interested in understanding typical STR fees to help estimate cash flow.If anyone is willing to share their experiences or offer advice, I would greatly appreciate it.

They are the experts-thats why we pay them through our nose -more than 25 K -and he refuses to modify a mistake he made that was pointed to by the contractor As many have attested to in this thread (Architects included), typically Architects do not do plumbing drawings.

For most people, owning their own home and house hacking is typically the best way to get started building some equity, enjoying tax benefits, understanding real estate, and reducing their monthly housing expenses, but it really does vary by person and what they are trying to do.

Typical is 5% to 10%, depending on market.