Do you just suck up the cost if guests damage your property or throw a party? 

If it's just a two-family, or really with any amount of units, I would send the same notice to all parties so it's clear that it is addressed to everyone (even though it's because of one tenant).

Pretty much the core of the STR business.Higher your rank gets, you can increase your price and be more picky in selecting customers which usually lead to a better review / less party or complaints / less expense and higher profit with a happy life.I know some people will argue, but the ranking system is the truth and should be the only guide to your STR journey. 

For the financial side they hire third year financial analysts (3 years removed from college) because they cost one quarter of what a qualified employee would cost.  

This agreement with your general contractor acts as a roadmap, with clear expectations and protection for all parties involved.One frequent mistake is the failure to include sufficient detail or being too vague.

Or, in Providence, RI they took the oldest indoor "mall" (Arcade) and converted the second and third floors to apartments.  

The average for the U.S. in the third quarter was a 28.7% return on investment.It’s impossible to know what every flipper in the U.S. spent to remake homes but Attom said the 28.7% return is within a range that could be easily wiped out by renovation expenses, mortgage payments and property taxes.”My large last extensive rehab was a little unit and I spent over $100k and I have done quite a few rehabs (3 last year, so hopefully my cost is competitive with what can be achieved).  

In Las Vegas they decided it has to be away form others, have sound monitoring equipment, ban parties, AND it has to be your primary home that you live in WHILE it’s rented out .

Quote from @Joseph Bushnell: I'm testing out the idea of building a data center and I was wondering if anybody has heard of owning the building and having a third party operate the data center itself.  

Also, wholesale deals off of the MLS are typically a waste of time for all parties.