I think I will not let him make this upgrade as a 5 year payoff would require over $100/month additional rent.  

Assuming 7.5% interest rate, the negative leverage would require you to put way more than 20% down just to break even.  

My experience has been that although I outline the requirements for tenancy in my properties, both brokers and PMs still send people who would qualify for most property owners but do not meet my outlined criteria; and then are SHOCKED when I reject them.  

Send it by US Mail with proof of delivery required and/or place it in an envelope with their name on it and post it on their door. 

I did not know of this time log requirement for STRs, so as a newbie I am going back through emails, texts, phone logs, invoices, etc. to determine how much time I spent on everything.  

However, about eight days later, the seller informed me that they had "changed their mind" and no longer wanted to sell.In the weeks that followed, the seller failed to provide the required documents, including HOA disclosures, the seller’s disclosure, and other essential paperwork, all of which were due within specific timelines per the contract.

Ha, hosts anywhere could apply this to their region simply by changing a few verbs and nouns.

In Texas, as a licensed agent, you’re generally required to use TREC-approved forms for real estate transactions unless an exception applies, like (I believe) leases longer than 1 year or where no TREC form exists.

The City could also require solar power.

The standard rule is $250k per person who legally owns/occupies for the 2/5 year requirement.