Aloha Barbara,We live on Maui, are accredited investors and invest in several syndications including Self Storage. 

Clear Creek, west of Denver, and Gilpin County, northwest of Denver, both have a primary residence STR permit that's not subject to their caps on non-owner occupied Airbnb.Park County, which includes Bailey, Alma, and Fairplay is open.

That way, there is some type of cushion to help against any high usage months, should they just happen to use more than your previous tenants did, or if you unfortunately get tenants who abuse the "utilities included" opportunity. 

I suggest gradually assembling a reliable maintenance team that includes HVAC, plumbing, and other essential services.Tenants are responsible for providing access to the property.

That's pretty important if rates were to decrease in the next couple of years.2.

. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

It's very important to perform your due diligence on the operators, the markets their operate it, ask for their past transactions, history of their track record.

However, it’s important to price competitively and be prepared for buyers to request concessions.

The factors you mentioned are very important to keep in mind for any investment, but I like investing in areas I know.