I would just cap it generously to only catch abusers and figure the normal running costs in your rent. 

It's like anything new, you just have to start and figure it out as you go. 

One of the biggest challenges of investing in Rustbelt cities is knowing where to invest and properly understanding the cooresponding pros & cons.Here's copy & paste advice we share to help to address this challenge:-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Once you have that figured out it gets easier to act intentionally.

If I thought for one minute there was a big market for EM deposits and a reliable bevy of potential clients I would be all over funding 7 figures .. but even with all my experience in lending I jsut dont see it  personally and maybe I am blind to it but I close a lot of deals for wholesalers 10 to 20 each and every month for years..

When you say professional quote do you recommend just paying a trusted contractor to do a walkthrough or do you first recommend getting an inspection to figure out what’s fully wrong/needs to get fixed before bringing in a contractor?

Trying to figure if the partner is the STR owner or another management company that facilitates things through you. 

They will need to figure out for themselves if they can afford the increase.

 :)  I figured that.

@Adam OrtizRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?