The same laws and procedures apply.

Example: replacing the bathroom vanity.My question: If I were to take pictures and a video of the thing needing repair and show it to someone at Home Depot or Lowes, would they be able to guide me on what to buy and what to do?

I don't self manage any Indy properties - it was going to too much work screening tenants, showing the property and coordinating repairs from 2000 miles away with a demanding W2 job.

On the otherhand, it the property is overpriced and the wholesaler doesn't know how to present it with realistic repairs, ROI, etc. they'll have to work extremely hard to find naive buyers.

If your accountant offers QB training or consultation, I would recommend sitting with him for an hour or two to go over your set up and procedures, this is also important.

They don't get involved at all with booking or essentially anything with the guests other than emergency repairs or some other issue I can't handle with them.

For the insurance deductible on the claim, it depends on the nature of the claim: if it’s for a repair, it’s deductible this year; if it’s an improvement, it needs to be capitalized.

But they know they need adequate reserves to sustain them if/when there is a lawsuit or eviction to cover lost rent, repairs, etc.

We have repaired and not replaced roofs when appropriate. 

The correct procedure is to process payments to owners from your company's operating account.