Same with the HVAC , if its working thats all thats required .Did the roof look bad when you put it under contract ?

But yes, now that we are here, maybe let him know that if things do not get up to date or cleaned up you will go to his superiors.When people are late right at the beginning, I let them know that the behavior is not acceptable and let them know there are consequences to that bad behavior. 

However, if I take my resources and spread it around, I can weather bad times better.

YUP anyone advocating this to the public is not doing the industry any favors to many bad apples and even if your the holier than though trainer etc etc.. the students are such that you cannot know who is going to be a bad apples and screw people.. having spent 40 years lending money to investors .. its the nicest ones up front that end up being bad apples.

And I suppose the likelihood of us getting more STRs in the area is directly tied to how good/bad our experience with this one is!  

Old properties aren't a bad thing as long as you account for the big four- HVAC, foundation, roof and sewer.

Sometimes people get into a bad rental situation, it's not always on them, but typically it's their fault.Ask the property owner what their comfortable with.

:>) That said, it's not all bad news here.. 

I’m considering it and looking for feedback. Thanks.

Of course, if I was a bad boy, just let me know what I got up to that caused the issue.