Acquisitions costs are low, property taxes are low, available housing stock is good, and there's always a need for workforce housing and rentals for young professionals. 

Top of my head:1) it doesn’t matter what prices you put in your lease, you can only charge them actual costs, I wouldn’t bother. 2) You’re removing all incentive for the tenant to clean up and take care of the property.

However, installation costs and procedures may vary, so it's worth getting quotes from both if you're not doing the work yourself.As a hard money lender specializing in fix and flip deals, I've seen successful investors use a mix of these sources to optimize their budgets while maintaining quality.

Pricelabs will automate your pricing based on criteria you set up front and change intuitively based on demand in the area.

If the property can be sold, pursue a short sale for its current value whatever that may be after considering the cost to remedy these issues. 

Depending on how you set up your STR that could affect you.

LMHA is relocating residents from Dosker Manor due to mold, rodents, and crime.Dosker Manor will be torn down, and residents will be moved to other accommodations.LMHA surveyed residents; they need help with medical care, groceries, and financial management.Relocations will start in August, with around 600 residents moving over 18 months.The first 100 residents will move to LMHA-owned properties; the rest will go to low-income housing.LMHA is covering moving costs and offering reimbursements up to $1,300 for self-movers.

If it’s a completely separate unit in a multifamily, typically tenants are responsible for utilities to streamline your costs as much as possible.

Adding  about 2.5% closing cost of 17.5k will bring you to about 50.5k (rough estimate) out of pocket. 

Honestly, I've been getting screwed with some big ticket issues (related to HOAs, selling different properties, continual unforeseen maintenance and costs) and this one really crushed me once I realized it was an actual issue.