Revenue is not profit though...you have additional expenses in STR (close to 50% of OpEx) due to cleaning, vacancy, and supplies.

How long for properties to be turned over with just cleaning and when repairs are needed?

He hasn’t cleaned his bathroom in ages.

I appreciate that people out in the rest of the country may value the clean functionality of this kitchen but from my experience in the NYC/NJ market this kitchen is a few decades over the edge.  

We clean that up during our remodelling and close out any and all open permits.

They also clean up very well

With 6 roomies, and possibly a lot of turnover, (Mi cocina es la cochina de nadie)Same for the restrooms, livingroom and yard.Maybe some maid service to keep the place(s) as desirable living space.I wouldn't not expect flop house types to be big on cleaning up other roommates messes .

You have three options take your time taping, cleaning as soon as you mess up or doing a poor job. 

I plan to manage the bookings and do cleaning in between clients, so I will meet the "substantially all" materially participation requirement.

If your goal is to minimize fees and have the lowest rate, I would normally advise the client to start with their current bank if they have a clean file.