Licensable vacation rentals are obviously in high demand and offers can become quite competitive, I don't have any formal statistics but I'd say a quality active or eligible vacation rental sells at least twice as fast as a non STR property, the majority within days..My best advice to investors shopping for a hot or high demand asset class is:- Prepare & Practice: Get your ducks (GO UO!) 

Those employers tend to help create a steady supply of good quality renters in the Albuquerque market, seeking single family homes, townhouses and condos to lease under typical 12-month leases.

The dilemma i have is that I can’t decide if it makes more sense to embrace the c class identity this property gives the impression of, or put a lot more into the renovation, get better quality tenants and convert it to the B class property that the building (and the area) should/could be. 90% occupied, the yearly rental income is around 600k with 420k NOI. 

This will give you the highest-quality renovated comps at the top, and as you scroll down you will get to the worst condition/fixer homes.

My experience overall is that the average quality is about the same.

The growing list of issues include multiple poor quality tenants damaging properties and breaking leases with no recourse, and non-existent communication/accountability from property management to the point where I have zero faith in their personnel correcting the issues I'm experiencing. 

Needless to say the first investment I made into the property was for a quality mgt system that was very difficult to override and office/site security cameras.We purchased the property in 2004 and had a mortgage with a TN lender who we had now had 3 mortgages of over 4 million for the 3.

When calculating cap, and other deal analysis criteria, none of them talks about how to assess the property in terms of its appreciation based on structural quality such as brick exterior versus vinyl.

There are others who believe time in the market is critical.I’ve only been at the real estate game for 46 years 😀 and so have been thru numerous market cycles.I’m a time in the market investor.Buy quality properties in quality locations.

Cabinets are usually 200 or 300 each depending on the quality.