To my surprise, they provided a quote for a 23% management fee per month rent, which includes a one-year rent guarantee (regardless of whether tenants pay or not) and a maintenance credit of 2.5k per year.I must admit, I was taken aback by the figure.

If you want to pass on benefits a renter will appreciate, buy a condo or townhouse with community amenities and included utilities.

Many include videos teaching you how to use them.

My estimated monthly expenses including taxes and insurance will be somewhere around $6,300 so I will no doubt have to raise rent significantly to pay the bills but I am thinking about raising them to bring in at least $7,000/mo for now and then make more subtle rent increases over the next year or two unless I have a turnover. 

I've also filed my personal 2023 tax returns and have those available with the STR income included.

With a 203K you won't be able to do much of the work for yourself, so that is a limiting factor on how much you can get done astetically in the begining. 

For every project, create a thorough budget that includes the costs of purchases, renovations, carrying, and sales.

Can you add these two factors to the simulation? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

There are a few rules that come into play for short term rentals, including a time test, and a substantial services test.