Many times, looks worse than it really is .Its a piece of sheetrock or two, 20 bux , clean up, repair the leak, 250. 

I purchased a foreclosure that sat on a suburban lot that was flat, needed repairs, cleaning and most of all the lot was large enough for as many as three homes. 

They are happy to have their blocks cleaned up, happy to have their home values increase when we sell, and the property owner who I cold-called initially made some dough. 

There is obviously a formal lease, and we also supplement with a room mate agreement which outlines the more specific things like overnight guests and expectations in dispute resolutions/ cleaning/ care for the home and appliances, etc.I haven't received one formal "LL request" email yet, other than a formal 30 day notice in the event of a move out, which is usually after they've come talked to me in person about it to begin with. if there's an issue, it tends to be pretty limited to "hey, we have this shower rod falling off"... which im usually here to deal with (and tbh most of the time they like to fix it up with me), and it doesnt need to turn into a big thing. as for keys, i have the house on a yale smart lock, so 'handing over keys' is just official move out, walkthrough of the room for damages, and then I can delete their access code and access to the smart home systems without having to re-key the house. 

You can only charge for the depreciated amount for the items you replace so a 3 year old carpet you can charge for the 4 remaining years of life.

- I am planning to have a contractor tear out the current carpet and install new vinyl.

The other obvious benefit is clean living and sustainability :) Let me know your thoughts! 

2- If I employ a full-service property manager to handle tasks such as cleaning, maintenance, booking, and guest communication, while I focus on business aspects like property search, renovation, decoration, bookkeeping, and supply procurement, would this still qualify as material participation or could it pose a risk?

The street it’s on is clean and nice, but there are some run-down, overgrown homes & lots nearby, there’s also a new $1 million home that’s the only one of its kind (and been on the market for 18 months).

I know LVP would be easy to clean.