And many hotels don't have 24 hour desks or 24 hour service.I don't get why all these newer regulations expect STRs to operate to standards that aren't even required of hotels with full-time staffs. 

A formal business built on this seems overkill as you’re essentially paying someone for a service that already has standard model.If you and the parnter have distinct business tasks/abilities (i.e. not what you would hire an agent or contractor for), such as off-market lead generation, that’s a different discussion.

-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

- You or the PMC can get 3 bids, but who is going to know how to accurately compare them and understand if something is missing - that will require more work+charges once the project has started (a standard tactic by many contractors!)?

Lowering your standards invites expensive evictions and repairs. 

The key is to standardize property quality and management systems, which would appeal to buyers seeking scale.If you’re thinking long-term, holding these properties for cash flow while leveraging local appreciation is also a strong play.

@Heather Bailey while I live in my duplex, I have a standard Hazard insurance policy and I also carry an additional 500k umbrella policy (optional); both policies cover the entire building, but there's no separating it. 

If you do, could I ask how that has been going and has the rents been comparable to the payment standards advertised by the respective housing authority?

My initial thoughts when it was mentioned, was to push him more to a standard multifamily investing strategy.

(It costs 10k+ to drain, clean, refill the pool so I only do it once an year and this is pretty standard) I think it is matter of if it looks dirty or smells bad when guests use it.