A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

Straight am doesn't add that much more for you while IO adds a level of complexity and seller convincing that's unnecessary. 

You will never have pet damage if you do not allow pets, except for those tenants that bring them in anyway.Pet fees will not cover the damage caused by the worst pet owners but imposing pet fees on good pet owners is defiantly a way to increase your profits.

Unnecessary?

It can impose major hassles for the landlord/seller if the tenant/buyer defaults. 

You can't screen guests with a photo and name, so it is unnecessary information.

Quote from @Chris Battaglia: As someone that has used STRs but doesn't own one, I would not rent a STR that requires additional agreements/paperwork imposed by the owner.

Minimizing your living expenses by containing unnecessary spending is equally important as creating massive income if you want to be a full time investor.My passion in life is to help others improve their lives financially.

Dig up and dispose any unnecessary bushes.

As a landlord, I rather collect rent and not impose and collect fees from the renter.