I received some referrals from other real estate professionals that I still use to this day.

This is a great idea...Thankyou...have a great day!

@Steven Cornell think of this scenario, what if you have a turnover and your cleaning lady quits that day.

I highly doubt this house will sell for the $180k I paid, let alone more than that.Comps in the area go for $60k-$160k at most now, and they all sit on the market for 180+ days.

REPS does not relate to STR's.For short-term rentals (STRs) with an average rental period of seven days or less, you don’t need REP status to offset losses against other income.

The way I interpret the following policy clause is that so long as the property is defined as other than "VACANT" which is the case when the property is being "constructed, altered or repaired", the 30-day time period and vacant status does not apply in this instance: We do not insure any loss at your premises if your dwelling has been vacant for more than 30 consecutive days immediately before the loss and the declaration page indicates an occupancy other than “VACANT“.

I'm finishing renovations on a studio apartment (under another unit in a multi-family) in the next few days and am trying to decide on what strategy to use to rent it.

Raising reserves makes sure they are present day one, but also dilutes overall returns. 

You can convert to a third rental down the road if that day ever comes.

Great question - the seasoning period typically begins the day that you purchased the land.