I offered to buy the property from the $28B foreign company which kept them from having to tear down the buildings to mitigate the vagrant problem and also from their obligation to pay the rail road for the long term lease.

FHA is for sure not going to be an option for him, last option is purchasing from an investor with owner financing, or lease to own program where he will not need traditional financing. 

Once you’ve made the improvements to your property, you should have the receipts to justify the cost of all newly added items.

The project was managed by one of my property managers for a 10% fee.Leasing and Property ManagementWith renovations complete, the property was ready to be leased.

Find a renter, qualify them, move them in, collect rent, oversee repairs, re-sign leases, move them out, turn the unit, rinse and repeat.

Can I ask why you want to rent out a short term rental instead of buying or renting out a whole unit that you already own to a tenant on a one year lease?

Just leased out my 3rd brrr.long ways to go, lots to learn.

It's usually better to earn $200 less a month for one year than to sit vacant for two months, particularly in the winter.Consider a bigger drop for a 6-month lease to get through winter, then increase rent or find a new renter in the spring when competition is hotter.

Will they "check themselves" from bad behavior when they see a professional company with professional services, legally reviewed lease, etc. managing their day-to-day?

Yeah there are several big items!