We had one guest stay for 3 nights one time and after their dogs urinated on the carpet we could never get the smell out.

.- Liability - always flows to the deepest pockets- Fear of regulation - regulatory bodies are gunning to take down short term rentals basically everywhere.

Just note, that not all guests like pets, so remnants of pets in homes (pee stains, smells, pet hair etc) can hurt reviews.

As for the investment cycle term, thanks to their non value-add nature, you have to hold for the long term in order to recoup transactional costs and the slight decline in price once the 'new car smell' from the TK provider's renovation wears off.

Carpets smelled of urine; patches and clearly mismatched paint; front door key/lock not working correctly.  

So if you don't like something they do (noise, decorations, smell), you are hyperaware of it.

I can smell their smoke from my living room, dining room, and bathroom.  

Cleaned up the place by removing all the junk ($500) and running an ozone generator in it for a few days to remove smoke smell.

She has 4 cats and the place smells horrible.

There is NOTHING I don't know about the human body.