Which is code for- has a great profit margin after expected repairs.  

The lease termination fee needs to be paid at the time they request this, do not substitute the security deposit for this purpose.This will ensure compensation for time, money and effort needed for a tenant turnover, including advertising and showing costs, regular repairs, utilities during vacancy etc.

If it's vacant and really needs cleaning/repairs, then I'll wait until it's more presentable.2.

To answer your question, Accounting when you have a PM Company in place is tricky because your bank statement may only show a payment of $800 but in reality that may be the result of $1,000 of gross rents less $100 in PM Fees and $100 in repairs made on your behalf.Best of luck.

The key is to make sure you purchase your the home at the lowest cost and know what your after repair value will be to see if you will actually be able to make a nice margin after netting all cost.

That could be anything from not accounting for capex/repairs/vacancy in their calculations or a complete lack of knowledge in how to calculate their future property tax obligation (this is a big deal in Michigan).Just the other day I had a call with an investor looking at a 10-unit property in Detroit.

Most repair calls with STRs are "emergencies". 

You might be able to find a local handyman or painting company that has someone on their staff who is really good at blending things in.If you're looking for a first class repair, someone like that is as good as gold.Good Luck!

At the very least, you'd have wanted to check the windows and doors were locked upon acquisition, repair any window/door locks not securable, ...

., handling leases, repairs, tenant relations directly), some states may view this as doing business and require you to register.Ultimately, it is state-dependent, and some states may have stricter definitions of what constitutes "doing business."