They must pay the market rate, the same rate you officially list for the property.The good news is that you staying in your STR for the purpose of making repairs is not personal use.

Some greatly exagerate the after repair value and way underestimate the repairs.Hopefully your previous experience will help you pick out the best deals.

Typically I've seen about $500-$800 annually in repairs per house per year so that can be viewed as a benchmark.

OR should I be happy with what I'm already being charged and not renegotiate.Right now I pay 100% of first months rent for new leases$68 per unit month for management$150 for lease renewal$500 in reserve per unit for emergency repairs (this will add up on a multifamily not sure how I feel about that)$75 in person service12.5% for renovation projects and repairs20% upcharge on evictions last one was ($560 total)Thanks in advance for your help it means a lot!

Other than saving a certain amount from each rent payment (for taxes, insurance, PM, general repairs, maintenance, Cap X, and vacancy), does anyone have a rule of thumb for what a good amount of reserves would be for a SFH or any 1-4 unit property? 

Repairs are slooowwww.

He earned quick money as a wholesaler, and I have a house to keep)Rehab cost: $20k (vinyl floor, interior paint, new dual pane windows, new toilets and bathroom vanities, lights, new landscape, new AC condenser, all done by handyman, spent some extra money for minor plumbing and electric jobs, hydro jet sewer lines, clean up attic (had mice), added some insulationTime spent: 3 weeks (two handymen for the first two weeks, one for the last week)Value after repair: probably around $440kJobs still need to be done later: some dryrots, roof work (it's tile roof, roof doctor quoted me $9k, handyman said probably $5k, home inspector said $15k you can get a new shingle roof.

What would you do in this case esp if they deny paying for the repair?

I made a few small improvements to the landscaping, I bought a few new appliances, updated a few fixtures, added blinds to the windows, minor drywall repair/paint, and marketed the property as a 4th bedroom that would make great home office/den instead of a 3 bedroom plus office/den.What was the outcome?

Cap rates are not very well defined as sometimes they don’t include repairs or vacancies.