*Update* I did not get the property The home inspection uncovered way too many big ticket issues.To verify U&O I visited http://www.baltimorehousing.org/permits I also called the city and verified that the property did not have a U&O and an expired water heater permit.

Let them handle all of the headaches, claims, ticketing, if you want to automate, rates, rate adjustments, peak rates, etc.  

Just keep track of the big ticket items and make sure to carry a bit more than you think something costs to fix.After having done a few flips, I don't really need to look at kitchens and baths, it is fairly easy to get a price figured out for one just by knowing the area and quality of the finished product.

From what we have experienced, since we manage a couple of properties for short term rentals, is that the 3+ bedroom condos are the hot ticket items.

The plane ticket alone is more than the fine.

Assuming there are no looming big ticket items that I am aware of, would you/should I continue to save for reserves, or just maintain that reserve and replenish as expenses arise?

@Troy Luster I think he means he is setting aside 7% of gross rents every year, so that they'll build up over time for when big ticket items need replacing.Most investors set aside between 5-10% for ongoing repairs and maintenance, and another 5-10% for capex.

I visit my out-of-state properties twice a year and it's more than $2.5K when you look at plane tickets, hotel stays, car rental, etc. not to mention there is added risk when you can't drive by your property from time-to-time.

They should be taking care of all of the big-ticket functional items - roof, hvac, water-heaters, plumbing, electrical, flooring, sinks, tubs. etc.If they are just throwing down paint and carpet, then you'll probably have a high capex in the next 5 years.James

For example, if, in an 18 hour waking period, you spend 2 hours snooping through the AirBNB, writing down the makes and models of appliances, figuring out the distribution of the mini shampoos and inventorying how many cooking supplies your hosts are providing and the thread count of the sheets, then an auditor might allow you to take 10% of your total trip expenses as a deduction.If, however, in an 18 hour waking period, you spend 6-8 hours per day interviewing Hosts, researching which properties would make good AirBNBs, researching the local laws, touring properties, meeting with an agent and vigorously pursuing your next acquisition, you'd have a MUCH better case for writing off your travel expenses (but probably not your lift tickets and equipment rental).If, on the other hand, you are traveling and on vacation and just hang out in your AirBNB without actually performing any activities, then the odds that an auditor will allow any deduction at all is pretty minimal.In any audit, it would be up to you to document the business purpose of your trip.