It's a really nice house that I put a lot of effort/money into remodeling myself.

Assuming it's accurate, a 5% cash-on-cash return (cell F22) is not nearly enough to justify all this effort!

If the fund purchases and renovates or buys and holds property for an extended duration of time, the sponsor team will need to make stronger efforts in property management.

It’s a big decision and shouldn’t be taken lightly…because you are right- it’s going to take time, effort and money (by way of loans/debt) to get that MD/DO.

Getting help from a TAS has definitely helped us in the past on addressing something like the IRS seeming to lose a payment and being unwilling to put the effort into finding it - nothing technically complex about your problem from what you are saying (just a lost payment), but if they aren't helping you, the TAS helps light a fire under them. 

I believe it's worth putting in that effort because these are long term investments with tens to hundreds of thousands of dollars invested. 

We put a lot of effort into finishing the basement.

In order to provide this outperform service for STR, how many units can you most have to justify your time/effort?

We put a lot of effort into finishing the basement.

However from my observations the squatter occupied properties tend to be in lower barrier markets and I wouldn't personally want to spend my time and effort trying to create value in such neighborhoods.