This time frame is crucial because it allows for you to perform your due diligence on the property before fully committing to the contract.

I have continually preached (since 2018) that cap rate compression (and interest rates) is what landed the historic 20+IRR returns, not operations, which is why so many people have been, and are still, in hot water right now with being forced to perform via strong operations.Today, we find ourselves in a much different situation.

There are STRs there and Greenwood but not a ton of them.I do want to say that you never want to count on appreciation to make up for a poor performing STR.

The cost to perform the value add will vary less between markets than the value added will vary. 

Particularly luxury STR's with an oceanview or access to the beach perform consistently and some areas are often amongst the the highest ROI nationwide for coastal property. 

What if you need to exit early due to lack of performance, personal issues, etc.?

Under Servicemembers Civil Relief Act (SCRA), the following are considered “uniformed members:” Armed servicesActivated National GuardCommissioned Corps of the Public Health ServiceCommissioned Corps of the National Oceanic and Atmospheric AdministrationTo terminate the lease agreement, the tenant must meet the following conditions:Tenant joins the military after signing the lease agreement or signed the lease agreement while in the military then ordered to permanently change location or deploy for more than 90 days;Tenant provides landlord written notice; andTenant provides landlord copy of the military ordering him/her for a permanent change of station or deployment for a period of 90 days or more.Landlord fails to perform its dutiesFailure to do repairsTexas law mandates residential landlords to make a diligent effort in repairing property problems that materially affect the physical health or safety of an ordinary tenant.

I used licensed plumbers, electrician, and framing contractors (most of what required permits had licensed contractors).In the case of the OP, if seller in disclosure disclosed that owner builder was used and not all work was performed by licensed contractors, he would be compliant with the rules in my markets.Best wishes

I had ZERO influence on it getting stolen.

Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.