We have our Guide Book on the counter in the kitchen.People like to have something to look through, plus other guests leave flyers from places where they ate etc. with notes like, "Great food" etc. written on them. 

If you are doing a BRRRR and leaving older items in place, not updating electrical and plumbing, I think you need $300 t0 $350 if you are just getting started.

One thing I would mention though - doing STR just to save taxes often leaves you operationally unstable or too detached from the management to be successful.

If pepper spray goes off by accident, it doesn't leave a hole in you.

At this point, we are three years in, and have learned that you sometimes have to have thick skin (grit) in dealing with tenants, managers, and RV site visitors; while maintaining a sense of humor and humility.

My thinking is this leaves me with two paths: A) Best case is I pick up the foreclosure for $1M, immediately list it for sale at $1.6M or more and hopefully sell for a > $500K pretax profit. 

For example, if a tenant refuses to leave at the end of a lease, how difficult would it be to get them out?

When you're doing your due diligence in MF just make sure they are not over leveraged and have some skin in the game.  

There are several great ones in Dallas, but I'll bet these days most want you to have some skin in the game, so no 100% financing and also financing of renovation costs. 

You will not see $1.3M you will only clear the difference of that 25% ($325K) minus taxes, Seller/Buyer fee's, attorney fee's might leave you with $180k amount split 2 ways so $90K each.You could take out a Heloc and pay him to walk away from the home so you can turn it into your home plus rental.