The property is very, very nice and belonged to an elderly gentlemen who kept up the place, but does have two major items that will need addressed in the near future: Roof replacement within the next 5 or so years, and a new AC condenser by Spring 2023.

So now you bought the goose-egg, and of course found a bunce of GC's who are happy to help fully reno the place, because that's all you looked for, a GC happy to do full scale reno, ignoring all items of at what rate, what speed, what cost controls, what references etc..

Example, they left a couch behind that cost you $600 to remove/excessive personal items that required you to "hire a cleaning crew/movers" - things like that... then you handle that issue on your own, charge the tenant out of the security deposit for it and use the funds as needed.

Seems he's dreaming up work for himself.Regarding the carpet and gutter , just say the monthly rental fee takes the condition of these items.

My question is - are people that are doing this packing up their entire houses and leaving only the bare items appropriate for an Airbnb?

One potential disadvantage - you are converting items that are normally exempt from self-employment taxes to potentially being subject to the requirement of wages / self-employment taxes.One potential advantage - potentially being able to have earned income eligible for retirement account contributions.

Got a call today from my lender stating that the appraiser mis-reported a few items (he/she recorded it as a 1 bedroom vs 2 bedroom + loft & pulled comps from 2012 that aren’t even relevant).

For a more conservative estimate I would go in planning for unforeseen items and would instead assume the walls cost @ $72K (20% overage) which would be @ a 32% return instead - which is still great!

Any other tips on individual items I can write off during a rehab?  

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