Beautiful design!

The good thing is you won't have a bunch of surprises since you are already assuming most of the mechanicals need done. 

Should I work with a local Architect to design from scratch?

Quote from @Erica Dike: If your vacation rental is designed for everyone, it speaks to no one.

.❌ You believe all guests are the same and unique design doesn’t really impact revenue.❌ You’re unfamiliar with an analytical approach to design and assume insights like these are just opinions, not proven strategies.❌ You think using emojis means I copied this from somewhere—I’m just a millennial who likes to keep things engaging.BUUUT if you’re an investor who wants to attract high-paying guests, increase your nightly rate, and create a rental that markets itself, keep reading.A question I get A LOT is: “How can I market my vacation rental?” 

Hire a designer.

I have always had an interest on Architecture and Design of real estate How did you find this deal and how did you negotiate it?

Mechanicals, roofs etc. can be towards the end of their useful life and pass inspection but then the cap ex can't be absorbed in many of these C/D neighborhoods.

In this study, new construction is defined as a habitable structure requiring load-bearing features and MEP utilities (mechanical, electrical & plumbing)Below shows which cities have had the most activity:Question: Do you see activity increasing for the rest of Q1?

From there mechanical and large items are my first priority (water heater, HVAC, roof) - though an inspection gives us more information and those items can be used as great negotiation tools during your due diligence period.