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.

But the damage to the blinds and the cost of removing trash definitely justify holding back some of the deposit.As for the documentation, it’s a good idea to provide a detailed accounting statement along with receipts for any repairs or replacement items.

Do you know how to determine reno costs IF you cant get in or even if you do get in ? 

If you want something more convenient, a GC can handle everything for you, but it might cost a bit more.

You know it should cost more to have S-Corp because of the extra filings/reporting...What are you doing???? 

The two owners Jonathon and Ginis provide live training and no cost commitment.

OR Hire property manager and eat the costs until you have cash flow coming in? 

A lot of investors seem to gloss over the price of a pre-payment penalty but in a Most likely dropping rate environment over the next few years that 3 year PPP can be quite costly if you cannot refi with out a large cost. 

If your competition is at 60% cost to income, then you should be close to that