There is No rents to see if it will support itself after the refinance, so its tough to speculate on ROI/cash flow on a long term investment.

Rising labor and material costs2.

Not furnishings but selecting the materials that will go into the new design of the home. 

I'm a big data guy so when he was sharing some of the scientific / data on how he grew rankings in tough markets... in ways I hadn't seen (from a data perspective) my ears perked up.

Well that's pretty tough.

Here's a breakdown based on your examples:Carpet, Vinyl Flooring, New Toilet, New Vanity, New Tub: These items are typically considered assets because they are permanent improvements to the property that provide lasting benefits.Plumber Labor for remodel: Labor costs for installation or repairs are generally categorized separately from materials.

Seeking advice on tough situation:I have a rental property in Las Vegas, currently vacated as lease ended. 

Material misrepresentations or omissions on the Application will constitute a default under the Lease or Rental Agreement between the parties, and applicant will be responsible for the cost of any background checks performed.

So essentially a good broker we'll get 75% of the materials upfront and if something is not right, the broker will tell the borrower what they need to do to get the loan accepted. 

Caribbean islands are notably more difficult to operate short term rentals because of the lack of resources (materials and labor).