Remember you only need one qualified applicant so setting a higher score will eliminate undesirables and save you time when screening.

I understand somebody needs to get paid for doing undesirable things, but sharing more than 50% profits while taking all the risk makes rentals look like very poor risk-adjusted investments.

Mud, tape, nails, sprayer tips, etc are all provided by the contractor and he knows this up front to include in his quote.  

Second thing is to realize what are the most disruptive items (drywall mudding, painting come to mind) and try to prioritize these things, even if you have to pay someone else. 

I'm not sure this will ever change, and I'm not sure beachfront will ever be a 10 cap again unless you're looking in a very undesirable STR area.People have traditionally bought beach homes as true 2nd homes. 

Melbourne is across the river and Melbourne Beach is a few miles south.I agree with the others that this is likely not a good deal at this price but what makes it more of a bad deal for me is this particular street looks very undesirable.

Generally considered an undesirable place to live.- NE Turkey creek - Good area, nice houses, convenient location but I stay the hell away from here because it's a flood zone.

We've actually seen this quite a bit.Clear as mud??!!!

This saves us working in the cold mud and dirt in the spring. 

If a unit is not rent controlled, the least problematic way to get rid of an undesirable tenant is to raise the rent above market rent.