Typically not using a lease in STR, focus mostly on a rental agreement which covers the use of the home and rules.

Hi Andrew, thank you for your reply.My idea was managing the turnkey process from A-Z for my relative, which means finding property by using wholesalers and realtor, finding a contractor for the fixing, using a property manager, and being the boots on the ground for this whole process because my relative is living abroad.How much would you charge for this work? 

You will have to locate the area using a black light and once located you can then deal with the issue, if it is cat urine related.Absolutely charge them if they left the property smelling bad.  

If I know how much the purchase price is but I'm using a hard money lender and refinancing that after 12 months what do I put? 

It is possible to give her half of the money needed as a down payment using a loan from a non-QM lender.

I'm using a flat 8% for maintenance and 8% for capex reserves and 5% for vacancies.  

I have done about 500 in my market never once doing a mailing or using a tool.

@Jason Warner 1) are you using a traditional lender ?

It sounds as if you are borrowing from your line of credit for the down payment and using a mortgage to finance the property.

We completed a cosmetic rehab including replacing the kitchen, bathrooms, flooring, paint and adding recessed lighting.We funded this project using a conventional loan and using our capital for a down payment and construction costs.