I had a similar situation with property damage, one of my tenants flushed a medicine bottle down one of their toilets and backed up the whole plumbing system. 

The good thing I've seen with short-term rentals is the ability to try it out for a bit and then have the option to go back to long term if the STR doesn't pan out.

I’m just trying to figure out the terms, and how it would pan out, if it’d be even anything to pursue.

We always find faucets dripping, toilets running, doors that have lock problems, missing screens, broken screen doors, etc.The next thing is we remove every garbage disposer and dishwasher and our tenants never complain.

Unless you want to fix backed up toilets at 2 a.m., you'll be doing the smart thing and hiring a property manager, even if tenants aren't paying because it's not for their sake but for the sake of the property and for you.

Pan Am University)  then got a huge parcel in Elsa, Tx to do a planned unit development of some kind. 

A lot of new investors think it's not a big deal to just get someone to give an estimate based on the fact that "you are going to do a lot of future deals together", but that almost never pans out.

Needed paint throughout, every faucet and toilet replaced, new stainless appliances, total exterior face lift, new hotwater heater, new textured laminate flooring, crawlspace treatment, and over all attention to derrered maintenance.

People want the freedom to focus on other things rather than screening applications or taking calls about clogged toilets on a Saturday evening. 

We painted, fixed ceiling cracks, replaced the floor with laminate and new carpet, replaced ceiling fans and light fixtures, bath vanity and toilet.