While in the fall/winter months a lot of realtors were talking about a "shifting market" and as a realtor, we need to be prepared for a downturn.

That said, there are some tools available to you where you can bring a certain level of automation to that rental management process (ie. automatically syndicating a single listing to 10+ major listing sites, thorough tenant screening with full background checks, digital lease creation, automated online rent collection, and maintenance tracking).

They fly into work the afternoon before their shift starts and crash at their crash pad for the night then go and fly their rotation (a day to 10 days depending).

When a tenant owns their home, their entire perspective shifts from being a renter, to being a homeowner. 

The IRS automatically considers single member LLCs as a disregarded entity.

When I was doing my due diligence I noticed that the owner had just shifted to the Hamilton County Land Bank only weeks prior.

If it was prepared by an NJ lawyer many automatically put it in there.I know that may not help your current situation but it may help you in the next.Also if you need a reference to a good landlord tenant-lawyer and your property is in South Jersey I can refer you.

It then automatically multiples hourly rate and adds materials.

I was trying to understand the model on which Airbnb operates and one thing I can't understand is that whenever a host signs up and put his listing he is automatically enrolled in Airbnb's Host Protection Insurance which provides primary coverage for Airbnb hosts and landlords up to $1 million USD for free of to the landlord?

Your going to want to do a great deal of due diligence and confer with realtors, property managers and other trusted sources in the industry to confirm that the rehab investment will in fact lead to a return and that the going rate in the area for your type of unit can justify a $700 price tag, because if it doesn't, you're going to be in an even greater world of hurt than with your first calculation.Lastly, some of your expenses shifted.