Quote from @Brian Rocha: I'm looking to secure a HML for a fix n flip in Florida and for now and am only looking to secure for the purchase price only and handle the rehab costs myself.

It’s inexpensive to provide but can make a big impact.Comfortable Bedding: Investing in high-quality mattresses, pillows, and linens improves the guest experience and leads to better reviews, which can boost occupancy rates.Smart TV or Streaming Services: Offering Netflix, Hulu, or similar services is a low-cost way to enhance guest entertainment and stay competitive.Fully Stocked Kitchen: A well-equipped kitchen with basic appliances and utensils appeals to families and long-term guests, saving them money on dining out.Dedicated Workspace: If your property caters to remote workers, adding a small desk and ergonomic chair can set your listing apart.Outdoor Spaces: If your property allows, an outdoor seating area, fire pit, or hot tub can significantly increase your nightly rate and attract more bookings.Energy-Efficient Features: Guests appreciate eco-friendly options like LED lighting, smart thermostats, or solar panels, especially in eco-conscious markets.Keyless Entry: A smart lock is a relatively small investment but offers convenience and security, which many guests value.If you’re deciding on amenities to add, it’s always a good idea to research your local market.

We don’t try further diversification by investing in residential mortgage loans, mortgage loans secured by property outside the U.S., loans not secured by real estate, or loans secured by farmland, recreational land, or oil and gas ,mining.  

Like should I have a folder on my laptop for the tenant and keep a copy of each payment I receive from them?

What I love about Baselane is that it was built BY real estate investors FOR real estate investors so it's really dialed in to what you're going to need in order to prepare your taxes, keep your books up to date and the more operational aspects of being an REI like tenant vetting and processing rent payments.

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

I noticed that the previous owner let them pay half the security deposit and the other half later, which is a red flag.

It looks like according to the county site (sbcounty.gov) they require all renter payment go to the active owner. 

Renter's Insurance is a cheap date for the tenant; it protects their security deposit and assets. 

For my units, I usually look for someone with annual income 40x the monthly rent so I know they are financially secure.