Budget overruns and unexpected delays seem to be a common theme in flips, so padding the budget by 20% makes a lot of sense.

Buildium is commonly recommended for smaller PM companies.

Networking with local investors through BiggerPockets, Facebook, and meetups can help you navigate the market, while avoiding common mistakes like underestimating expenses, poor tenant screening, and hiring the wrong property manager.Good luck!

STR Property management is common and I know a lot of folks doing this.  

NOW it makes sense. 

Depending on the type of replacement cost (functional, common construction, etc.) you may or may not be able to get reimbursed or replace with the exact materials that were there before. 

They gave me decent terms on financing the rental and providing rehab funds but it did not make sense with me being so close to finished. 

@Noy Rivlin Most single family homes that make sense as rental properties are about $125k-$225k.

We get paid the same whether you take a higher rate or buy down, but there are absolutely times when it makes more sense to do it one way or another.

Quote from @Joseph Mena: Are the going/common down payment minimum for duplex's (20%) tri/quadplex (25%)?