Yes, I thought that was rather clever :-)  But, seriously, I'm not sure how much it would cost to gut it and get it into the condition required to get top rents, like put in nice laminate flooring, get the odor out, maybe put in new cabinets, paint, doors whatever was damaged, etc., but let's say it costs $10,000.If you are spending $10,000 to get another $250 in rent, $10,000/$250 = 40 months. 

This strategy got me better pricing, and I felt like I was being clever about it.

Maybe just place good tenants on a 6 month lease and let it go M2M afterwards, sometimes keeping it simple and letting the rental do the work for you is a lot easier than trying to be too clever...

Then any expenses, such as purchasing linens and furniture, can be written off.

Your co-host idea is clever, but will not allow you to qualify unless your the one doing the managing. the 100 hour rule is technically 100 hours and more than anyone else. 

Cost of furnishings - luckily in our market the majority of properties come fully turnkey meaning, I write my contracts like so: Personal Property included with the sale, any furniture, décor, lamps, kitchen and household wares, linens, electronics, appliances, all patio and deck furniture, fire pits, hot tubs, rugs, currently located at the residence at no additional value.  

Not only will appliances and mechanicals need updating, but linens, furniture and decorations also need updates over time.

We're just looking for cleaning, not property management.We do need folks to either launder linens or take them offsite to launder, but need to keep the price reasonable.Many thanks in advance for any feedback or referrals you are able to share!

@Monique Rene Coates Account Closed Absolutely I see so many people desperate to get in to there first deal doing things in the most unethical of ways that I could see them getting in trouble. just the other day I was watching some guy on Periscope making cold calls to people, they were simply making fun of the callers while speaking to them and calling it clever sales experience and offering coaching to people.

Furniture, mattresses, pillows, linens, towels, bath mats, soap dispensers, hair dryers, iron, ironing board, vacuum, a FULLY stocked kitchen, TVs, cable, internet, rugs, outdoor furniture, hot tub (maybe?)