You'll get much more "bang for your buck," lower cost per key, and lower maintenance costs per unit.

Rehab costs and ARV (After Repair Value) are key parts of evaluating deals, so it’s great that you’re diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor. 

If you can, bring a contractor or inspector when you check it out to get a clearer idea of what you’d be dealing with.It sounds like you’re doing your homework, which is key!

Transparency and value are key—both for you as the owner and your tenants.

I think the key in that case was that the property was the last one needed in a large development of a group of blighted small MF buildings that were to be torn down and redeveloped.

Given everything you've shared, one key thing to consider is flexibility.

Either way, clear communication with the guests about who’s managing the property is key to keeping reviews and satisfaction high.Permit Timing:The permit delay makes things tougher, but if you buy the furniture and keep future bookings, you might be able to use that time to update décor piece by piece without fully shutting down operations.

Plus she violated the lease agreement by rekeying without written permission from owner and refusing to give the new key to property manager and myself.

I currently work with investors building and diversifying their portfolios with Single-family homes over the midsouth/midwest, and I would love to connect with you and share some insight on the turn-key world and swap investing goals.

It depends.If you find a PM that is willing only to do some task becaue you're still very involved then go for price.If you're looking for a PM that will ease the stress to where you forget you're even a landlord then quality of service is key not price.