Your build out cost will be less competitive for the elevator systems, fire sprinklers, exterior parking spots- unless you do drive through load zones, and exterior wall surface.e. 

Quote from @Jaron Walling: This market has rental properties in a gridlock. 

If they put a hole in a wall fix it as face as possible and let them know it's not okay, but accidents do happen.

a toddler is going to grab a sharpie and have at your walls LOL.. 

Our total gut ran about $65k inculding all new drywall as the walls had an adobe style finish, plus we added two additional 1/2 baths.

This house was very nice and clean (build later 1980) My tenant recently claimed there is mold on 1fl (it is like basement as there is no window, it is next to garage) When i see, the mold is not only one area but it seems widely spread on the ground floor (laundry room, wall, celiling etc) Since it is OOO investment, it is not easy to deal with mold issue.

Anything structural (adding/taking away walls or square footage)6.

Unfortunately, this isn't always an easy relationship.What if you, as a buyer, like a home but despise its wood-paneled walls, shag carpet and lurid orange kitchen?

I’m really early into the research phase but would be prepared to “pull the trigger” over the winter (eg purchasing a property to setup the tents) but ran into a bit of a “wall”.I’m pretty close to Blue Ridge and love the area so have considered a STR there for a while.  

I took down every interior wall and completely changed the Floorplan.