The result of the cap rate calculation is important because it provides investors with a lot of information about the value of the property, the risk in acquiring it, and its potential return.

Is there anyway to remedy this quickly?

I don't do airbnb, but from what i have heard, short term tenants will tend to be either easy on your place or really hard on it, your neighbors probably won't be happy about it, your whole model could be shut down at any moment because of the HOA, so there's plenty of expenses involved in remedying any of those issues3. you should consider reading the AirBNB terms of service, as I believe it specifies the insurance requirements, along with consulting your mortgage holder4. 

Ridgeview was acquired from 'mom & pop' owners and will go through an awesome value-add strategy by renovating the interior units, adding amenities, billing back utilities to tenants, and implementing a professional property management company to improve inefficiencies.

This was an off market deal in Indianapolis, IN that we acquired directly from the owner.

Should I have my tenants sign a waiver in place of them not being able to acquire renters insurance?

They will cause constant issues like clogs, electrical shortages, lead citations, remediation if there is asbestos in piping or building materials, etc.Maintenance and CapEx are your two most variable expenses.

Depending on the condition of your property it's not unusual to acquire a property that has no utilities turned on until you're far enough into the remodel that they can be.

The way I see it, we're acquiring real estate which has great tax benefits from depreciation, 1031 exchange and maybe other benefits I'm not aware of.

This was conducted to acquire the rental property - I assume this can be capitalized - added as part of the cost basis and depreciated for 27.5 years.2) Lender's title insurance.