I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

Less oversupply with that product type and more renters that were renting the more expensive bigger cabins are choosing the lesser ones because they love the area but don't want to spend as much on rent.We've talked with several long time investors out there and there isn't a one that have held on to their cabins over time that aren't still adding more. 

Now what you should do is contact the title company and confirm if title was going to be clean and marketable.

Additionally, consider operational costs like cleaning, staffing, and marketing, as they can quickly add up.For management, outsourcing to a professional property manager or leveraging tech platforms for bookings and operations could streamline things, especially if you plan to scale.

You will owe monthly payments until you fix the property up, rent it out, and refinance to a more traditional 30 year fixed rate product. 

STR management is 20-25% (I would recommend self managing or getting a VA), since income is higher you could probably get away with 5% for maintenance / cap ex but remember you need to cover utilities and cleaning for these units which drives up costs.

With the exception of 1 bedroom units, you basically have 2 options:-Oversized/commercial machines (potentially multiple sets)-Off site cleaning with clean spares on siteThe latter is almost always the most efficient and basically what hotels do at scale.

I have found that in many STRs we have stayed at, they aren't cleaned well and look scummy or even mildewed. 

My other 10 SFH most of which were purchased though turnkey providers tend to stand by their product more than JWB. 

That said there are some nuances and requirements to property implement interest tracing so ensure you talk to your tax professional ahead of time and keep the funds movement as clean as possible.