If I decide to do the repairs and continue renting it, I will cash flow positive a bit, but to get to that point I would have to spend thousands (replace entire electric system, roof replacement, etc). 

We had to replace some the subfloors.

As a result, I had to move forward with a septic replacement.

, clear laminated instructions inside the unit, etc.Also very important to consider scale--if you are planning to have several STR's in the same area, then it's wise for you to invest time now to build your team there and manage the place without a co-host.

If not then don't replace.

I had replacement coverage insurance and received about 300K to restore the house.  

@Ricky Sanchez One of the requirements of doing a 1031 exchange is that the tax-payer for the relinquished property has to be the same for your replacement property.

Quote from @Joel Bechtel: The agent I spoke with has about 30 years of insurance experience, so I’d hope she knows what she’s talking about and what she’s offering.I have another policy with Allstate for my 6-unit property, which they were able to insure for approximately $890K because the replacement cost came in under $1M.

For a project like this, where you’re installing a water heater, HVAC, replacing a front door, and installing appliances, here are some key insights: 1.

If that isn't working out money wise you probably have other issues to address.