I think a property manager is essential.

Essentially ended up screwed out of a substantial chunk of retirement savings and left to find my own lender elsewhere to close the deal.

You essentially end up paying over $300 per month if you attempt to start making calls from the dialer.

Higher property taxes can eat into your profits, so it's essential to factor this into your calculations.It's worth asking yourself if you'd want to live in the markets you're considering.

Understanding STR regulations in a market is an essential "must do" when it comes to evaluating a short term rental.

As for other amenities, some crowd-pleasers that won't break the bank are coffee maker + starter pack of pods, basic workout equipment (yoga mat, resistance bands), phone charging stations by the beds, and basic kitchen essentials like olive oil, salt/pepper, coffee filters, etc.

Something has to get better in that market as the regulations are too confining and essentially up to interpretation by the city explore you engage with.

Because this property is located in midtown historic district of Sacramento, we feel there may be market for both MTR and STR, but first thing is we will target LTR and let 3 or 4 units filled in.When we first start developing this apartment from ground up, it was intended to flip and move on to the next project, with timing and interest rate etc.. we deiced to keep it as a cash cow for a while and see how things go.  

I essentially would hire anyone who would work for me during this time.

Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value.  1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).