Any money that comes out of your pocket, you are spending on the property...that you don't need to spend.If I read this correctly, you're actually spending $500 more...out of pocket.Think about it this way: A - If you take the same property, and over the next 3 years you had no positive cf, because you spent it all + $500 extra on the mortgage, that property cost you about $60k. 

I appreciate your confirmation that those are the correct things to do!

Is this correct?

DaveMOXIE ManagementThank you for the offer, but we were able to find a management company to replace these tools in July.

So from what I know (someone can correct me if I am wrong):As a new owner, you have to abide by current lease term until its over.

@Brian PulaskiI have the correct tradesmans but, it is difficult to understand the scope of work without gaining access to the inside of the property until the current residents are out.As long as major work is not needed then I expect to be done within the 60 days. 

I've searched a bunch of FHA AirBnb threads on BP and wanted to be sure I'm understanding what I've read so far correctly.

You are correct in stating that the disadvantages are often overlooked.  

You are asking the correct question... why? 

I work in Dayton, OH and am having a hard time finding a finish carpenter that is sober, has their own tools and transportation, insurance and shows up and gets the job done.