For me, real estate was a means to an end...so that I could spend all my professional time doing what I love: helping people and renovating properties.  

Practically speaking, it’s going to be quite challenging unless you spend significant time.

If we decide to refi in 3-5 years, though, we may time a couple of the leases to end at the same time and spend ~$6k to tear 2 rooms down and rebuild them.

.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

Your best bet is to find one that has flexible membership options, without high spend requirements.

We use a custom lease that has evolved over more than a decade to protect us and the property owners.

how much do you have available to spend on renovations? 

A prenup is valid if it's entered into with full and fair disclosure of all assets by both parties, and if it protects both parties.

My business card I do probably have a $10k spend a month on it, but I dont really carry a balance on it, except a little in dry seaons to better manage cash flow.

My wife has a hard time spending money.