Now, because everyone has chosen to remain silent, he can tell any story he wants and the masses will presume him innocent because noone is willing to speak up to the contrary.  

Is there a reason why you have chosen that specific geographic area? 

They could have chosen a different number, but one month makes sense because short-term renters tend to stay for days or weeks, not months. 

Whatever you decide will be best for you - BUT - if you do re-finish the floors....MAKE SURE you do the prep & clean work....after sanding - sweep at least twice.....then tack cloth (you can make them yourself - basically a rag with mineral spirits - VERY easy) - I went over the entire floor twice - I might even suggest three times....it gets the "crap" out of the pores of the wood & lets the wood take the stain much better....and the more coats of poly, the better - but take your time - as they ALL have to dry...MAKE SURE they are dry...

Exact color varies based on flooring we have chosen or if we are keeping existing flooring and color of kitchen cabinets.

I believe they´ve chosen an excellent land for this project. 

You can do it for sure, but it's not going to be anything like managing your one property.And you've chosen probably the most difficult market in the country to do this in.Yes 25% was WAY high in this market.

You have already chosen your tax structure.  

Connect with a local real estate agent in your chosen market who is knowledgable in investing4.

I'd probably try adding on the bottom since there is more meat to the square profile there to connect to...but I'd trust your chosen professional.