My wife and I live in a MFR that we own. once our upstairs rental income is qualified (2 years) we will be able to utilize a percentage of it as income for lending.

., cap ex, misc-rough estimate for utilities etcI know every market is different but thats why I am asking.

First, utilize all the free resources on here to gain valuable knowledge from experienced real estate investors.

Perhaps I'd print marketing materials, send mailers, attend events, network, etc. 

You will find plenty of helpful materials and people here.

In addition to the house being a disaster, there was a separate garage that was caving in, piles of trash in the yard, two old bread delivery trucks, a rusted out Ford Bronco, rotting building materials, and miscellaneous fishing gear strewn about the yard.

Hi @Alan Da Costa, I agree, I'm not a big fan of utilizing the existing hotel industry jargon for STRs, especially considering the fact that hotels are built on a model of rooms occupied by different guests for overlapping days.

Materials here are typically at a higher cost.I'd be happy to help answer any other or specific questions you have.

Shopping materials and labor costs from different places usually pay off. 

I source materials to get the best deal possible, and I manage my contractor team pretty carefully to keep cost down as much as I can, even though on my current projects I am not doing any work myself.