So, after all costs your net is $2700/month.That's ordinary income.

Repair/replacement/addition of exterior decks, patios, porches

If I left lawn chairs in an ordinary rental I'd just tell the tenant "you can have these" and not worry about them.

Our association keeps on top of legislative activities and "crackdowns" involving real estate investments, and we have not heard of anything out of the ordinary other than short-term rental taxes having to paid, the usual squatter warnings, etc.Good luck and happy investing!

If you currently have a rental in the area in which you are sourcing more deals, then we have an argument to deduct some of those expenses as ordinary operating expenses.

I flatted out the area at the bottom of the hill with a concrete paver patio that is about 300 square feet. 

With 5-6 days worth of work I was thinking that $4800 would be a more reasonable number...but there is some work needing to be done to support structure while the new front patio is being poured and such that I'm probably getting billed more for.As for the quote on the main portion of the work...

Upgrade the appliances.3. remove space heater and install baseboard heat (a little on the expensive side)4. replace toilet for a more water efficient toilet (save on water bill)5. replace windows with more energy efficient ones (saves them on gas bill)6. backyard patio/deck/etc.basically anything that makes them happy but also adds value to the home!

If you sell the property within 12 months, then the gain is subject to short term capital gain rates such are the same ordinary income rates.

I have three properties there that I self-manage from a distance, just like Vik said, once you're up and running there's very little time investment, it just requires having some flexibility to respond to messages from guests in a reasonably prompt manner, and the ordinary check-in messages etc. can be automated.