I’ve had deferred maintenance pile up because I couldn’t be in the homes myself.4.Other Considerations: There’s a lot that can slip through the cracks when you’re managing from afar.

I did confirm that in North Carolina, per the Statute of Frauds, any agreement lasting a year or more must be express, in writing and delivered to both parties, along with consideration (which I remitted via wire). 

Quote from @Deirdre Lizio: This is not an "either-or" consideration.

Having toured some of the most prestigious, expensive and historic estates and properties from Brookings to Astoria, there is still considerable investment opportunity at the very high end of the luxury market.

They do not take into consideration the revenue from the STR business as part of the selling price.So if comps say the duplex is worth 500k, then it is worth 500k.

Your interest and holding costs will also be considerably lower.

They’ve likely invested a considerable amount of time and money into it.

Ask specifically what is needed to comply. 

Also I understand the funds aren't available for the improvements so that is another obstacle that has me leaning towards price reductions to move on as soon as possible.The exit of lower tier SFH's is something very few investors care to consider when making their investments but deserves far more consideration. 

So, you go over budget FAST.So, your Scope of Work (SOW) MUST be very specific as Mr Perez learned when contractor didn't put in new outlets.To "perfect" your SOW, suggest you walk the property with 3 contractors and ask them what needs to be done.