For the most part its just health and safety items, which are items we should have remedied anyways.As someone else mentioned, biggest thing to avoid is having the house tagged as vacant which the city will do if it sits empty for too long (handful of months, grass not cut, etc).

The 25K would go towards a rate buy down.As far as accounting for cap ex and maintenance for newly replaced/updated items, I'd still recommend doing it.

You're in a dangerous place landlord wise.

Covering most of the routine maintenance items here. 

Generally people might budget 15% of incoming rent for these items.

I've even heard of GCs using auction type settings for returned items at Home Depot and Lowes for steep discounts.I've learned a lot about the GC game as I was up close to over 40 projects last two years and some went well and some did not and when they did not it was all Contractor related.If a GC isn't sourcing cheap materials at the same time milking the hell out of his 150-200 per day workers, then you can find yourself eating into your margins real fast. 

I am also looking for information regarding fee structures, and what item's that should be and should not be included in the management fee calculation. 

A STR is both a business and a real estate investment.Having little oversight on a newly formed business would make me anxious also.As others have suggested, you should consider going to the area for the initial items(Purchase, renovation, etc).Once you buy 1-2 properties, you can look to unload these items to someone else.Best of luck

Water heater 12 years to replacement (may need some service before replacement).Recognize many cap ex items are years away.  

You will be judged for having rented to a offender and will be viewed as placing others in danger.