A Qualified Joint Venture (§761(f)(2) )allows two spouses operating a business together to not file a partnership return; however the business can't be held as a state entity (§301.7701-2) like an LLC and it also requires material participation by each spouse under §469(h) which can be hard with a SFH. 

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

I'm making some pretty big moves right now and changing my business plan in a new direction, so I don't want to die of shiny object syndrome, but this method really speaks to me.

Would the value of the remodel increase the rents or the selling price that would out weight the cost? 

We invest the rest in our business and reinvest all the profits from the business back into the business. 

We need a new bank account for business S-Corp.

The median home value in Phoenix as of April 2023 was $368,657, which is a 23.5% increase from the previous year. 

I don't care what kind of business it is, STR, Hot Dog stand, any biz I am NOT paying 8X annual gross revenues, no flippin way! 

This means that not only do we lose the unpaid assessments, but we may also owe the management company the continually increasing pile of late fees. 

You could restructure the contract to increase your protection, but the seller won't like that.