Purchase price is below $30K, renovations cost based on one contractor bid is $350-500K.- Best way to estimate the ARV.  

Here's some more context:Rehab cost about 30k.

VA assistants has dramatically reduced our work in the business and provided 24/7 monitoring for a fraction of the cost of local property management. 

When I have a tenant sign a lease they also sign a document for the cost of repairs when the lease ends.  

Partner Driven financed the W 136th Ave deal using its own capital, covering the $180,000 purchase price and $37,413 in renovation costs.

I will definitely weigh things regarding the environmental risks and the insurance costs.

The input costs for operating a STR are a multiple of what they were even 5 years ago.  

@Crystal Sherman you can try to wing everything you do, but you'll eventually find it is efficient due to time constraints and costly mistakes.So, you'll want to create efficient processes for everything.

It has got very difficult to clean the carpets so replacing them every time a tenant leaves is no cost efficient either.

My quick analysis had the added cashflow taking several years to recover the cost of furnishing the unit on top of the added management required for a short term rental.