Cap-ex was needed for:* Original 1960s kitchen, appliances out of order* Original 1960s Pepto Bismol colored tiles in the bathroom* Tobacco and marijuana stains/odor in every room* Stained carpet covering damaged hardwood* Broken side door from forced entry by police* Zero recessed lighting with 3 layers of blinds on every window* Lots of trash in the basement both on the floor and mounted to the joists overheadCheck out the Zillow listing at: https://www.zillow.com/homes/119-Jasper-Pl-Alexandria,-VA-22...What made you interested in investing in this type of deal?

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I always ask within 24 hours of check-in to see if everything is okay-- but I think it takes people time to move in and see if anything additional is needed.

Regardless, you need a PM who takes the bull by the horns when issues arise.

You need to be careful with prequalifying people these days as various cities and states have laws that can restrict that. 

There are good tax benefits, but you should really decide on whether you want to own and operate a business that requires as much upkeep as STR before exploring it further.

I'd recommend getting multiple quotes from service providers to see what pricing is going to look like per square footage.Without too much information provided and depending on the size of your home it could be anywhere from $5,000-$15,000+

Way too much to explain and too little detail shared.

Property to purchase would be a STR at $240,000 - so we would need the 20% down payment and we are looking at different options as the source of the funds.

How did you find someone to oversee the set up and also be your boots on the ground as needed for emergencies once the rental is ready?