We cringe when we see people who model assets through rose colored glasses especially when they have little money.As you mention leverage can be your friend but you also need to make sure you have considerable amount of cash to cover the types of expenses etc you mention.

Some cities are pro growth others will fight you tooth and nail.

Of course, a tenant flushing action figures down the toilet and allowing their kid to color all over the walls is always a possibility.Like-minded professionals: meetups and REIA groups.  

For bathrooms, you can use a higher temperature color like 5000 K.

If for some reason you need to rely on regular adverse possession instead of tax sale short statute of limitations, it requires ten years of possession after color of title.

Looking at AirDNA results, my biggest concern is occupancy rates, most of the calendars I look at have large gaps in them, and when you spend close to $500/sq. ft at current prices (in STR-designated areas), your property needs to rent well above 80% or you charge crazy nightly rates.We've also seen very few property management companies that charge less than 25% there (and 25% is rare), and some STR neighborhoods require you to use their designated PM (Desert Colors only allows Red Rock, and they are at 40% commissions - ouch!).

.,  where I can see this for sure is with agents on BIG teams that are beginning their carrier they get cash flow ( IE they get paid I suspect from you weekly or monthly out of the retainer).... ya I can see this.and as you said your blue color FHA buyer with minimal cash savings is probably not your target.. but sophisticated number crunchers..

If this were my unit I would change all of those white switch covers over to switch covers that we're very close to the paneling color so they blend in rather than stand out. 

More to come too. the inexperienced will more slowly figure this out.   

From a design perspective, I think you need to work on a more cohesive look throughout and tone down some of the colors you have going on in the living room/kitchen.