What you paid for it and invested in its upkeep are not factors for pricing/selling a property. 

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.

Speed of building a portfolio (Cash-on-Cash return is a factor here)?

And this low demand could be a couple of factors, either a rural location with low population density or the area incomes are not high enough in order to prevent a rent burdened scenario. 

CPAs often advise against pursuing this designation unless the time commitment and documentation are robust, as failing to qualify can result in IRS audits or penalties.The 500-hour rule pertains to material participation in specific real estate activities or businesses.

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

Flipping a brand new home likely wouldn’t bring much profit - especially after having to close twice when you first buy it, and later sell it.Maybe you have millions to spend and I’m just missing the big picture… but when I think of “income” I’m usually thinking “net income” after you factor in expenses, like purchase price or building costs?  

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.

This includes flooring, painting, bathroom upgrades new light fixtures, usually there’s about $800 in electrical costs factored in here and all new cabinet hardware.

So, I would only recommend doing it when there are synergies to take advantage of such as the partner having a skill like HVAC, interior design, accounting, etc. 2.