- And more...Let's move past all of the above and focus on understanding and monitoring maintenance charges PMC's bill to their clients.There are two basic components of every maintenance bill, labor & materials.

I'm curious as to what cosmetic rehab you have to do that costs $27K? 

If the property does not require an extensive rehab and just needs cosmetic repairs then a standard landlord dwelling policy in most cases depending on the carrier.

How about a sales contract with contingencies but with a limit where the buyer can only terminate the contract if their find material defects exceeding a certain dollar amount.

However, it is an old home and you are thinking about major cosmetic upgrades too.    

They must satisfy "material participation" test for their STRs to utilize the strategy.

I’d start by figuring out the cost of the cosmetic updates and seeing how much you could rent it out for.

.- Value-Add Investments: Beyond cosmetic upgrades, think about adding amenities like solar panels, EV charging stations, or smart home tech.

The house's exterior is constructed of brick material with a flat tile roof.

As others have stated, your fit & finish goals should be guided by whether you plan to:1) Rent: tenants don't always take care of a property, so you want to use lower-grade materials and workmanship.2) Flip: higher quality on workmanship and materials is usually required.Regardless, you always want to "Maintain to the Neighborhood".