Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

As such my market research is based on longterm rental criteria.

At a high level it will all come down to the specific piece of land you are looking at.  

Specifically, has it changed their tax preparation bill since they can't just send their Quickbooks file over to their CPA?

I been looking to buy my first rental property I already got Pre-approval loan, down payment and criteria for the house.

I was specifically responding to this: Would I pay for all the remodel expenses and then 50/50 split of profits or does contractor pay remodel cost? 

If so, I am curious the thoughts and drives behind that, like, maybe really wanted exact answers to you so thought posting on your specifics was best approach? 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

ALSO they have regs on rooming houses only allowed in specific zoning, similar zoning as for hotels;  only on main streets in business districts AND you have to apply for licensing and blabla as for a hotel..That said;  there is a small movement supporting rent by the room as a small step toward solving affordable housing. 

Here, we will focus only on a December-specific question: how can I meet material participation if I buy an STR in December?