All agents are incentivized to sell it's a transactional business and because you are just starting out and in a low barrier market you will encounter many new agents who need to eat and pay for their gym membership and car that month.   

Carpet can easily get stain and will smell over time especially if the tenant has children, pets or eats in the carpeted rooms. 

When you shift in and out of properties you pay fees for commissions, loan origination, transfer taxes, etc. which will silently eat into your gains.

So you may have to eat that aspect.Increase the deposit for the pet as part of the renewal.....and dont fix the current damage until they move out, or you will just fix it again.

I don't know what is standard and if I just eat my lumps and that's how it is.

So it sounds like I likely have 2 options:1) just sell the property and eat the Cap Gains tax and move on, or2) do the entire exchange under our personal names and do a “improvement exchange” and book it through the home build.

A lot of developers will have their own PM and that'll eat up your profits. 

If longer, you might be stuck eating those costs.

Many things listed would be considered significant services and would have you losing much of your tax deductions.I know of a couple of STR owners who had to eat a big tax bill due to this and they had to nix those sorts of offerings.That doesn't mean you can't create the wellness space, golf simulator, upscale game room, etc to enhance the space.

Longer vacancies can eat into profits.Alternative Strategies: While BRRRR can work, Wichita might also be suitable for:Buy and Hold: If rehab costs are high or competition is fierce, focusing on long-term rentals with good cash flow could be a simpler approach.Remember: Talk to local real estate agents and property managers to get a realistic picture of rehab costs, rental rates, and vacancy times in Wichita.