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.

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So when do we start to see the extra .25% hit on the loan side?

From that perspective, the glass is half full and we should be looking for opportunities. 

It may require another schedule to be filled out at tax time meaning an extra expense also. 

In the contract, state that if usage exceeds 120% of the average, the guest will be responsible for the extra cost.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Pay extra attention to the last paragraph, rev on a first year listing will be lower, it will get better. 

He told me that he had found it much more useful to save the extra money for repairs, emergencies, or future investment.

My view is that the extra income from STRs/MTRs basically compensates for the extra effort.