Budget these carefully into your overall project plan to avoid surprises.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.ARV: Be conservative on your ARV since the appraisal concerns one person’s opinion.

What's the minimum amount you could receive that would make it worth doing the cash out?

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

If are confident you will receive a permit, then somethings to think about...#1 I would call the city rentals department directly and ask if the seller's license will remain active until the day yours becomes active.

Have a late fee in your lease.Leaving trash in the yard, tell them to clean it up because if the city gives you a fine, who do you think is going to pay for it?

Some will probably do fine with it, but the number of spectacular crashes amongst this demographic will be a multiple of the norm. 

I really think that this is not necessary (with all due respect @Jonathan Greene)The forum is great and works just fine IMO.

There is a fine line between offering a well rounded service and leaving too much in the home.I love the business and glad to be a Superhost but this has been my experience.  

@Nathan Gesner Yes, I'm fairly confident if we were to hold long term, we'll do just fine. 

@Jonathan BlancoYou have received a few good replies so far.