The materials used in making these drive the quality and the cost;  - Particle board (and there are different grades of this) is the cheapest  - Plywood is better (again different grades)  - Solid Wood is best (and again different types)Water is the enemy of wood in general and cabinets specifically due to humidity and leaks so I prefer solid wood frame with plywood decks / shelves.

Do I have to mention any thing about his documents in the contract like Driving License # or professional license # etc?

He has a very good job and great credit but is young and immature so I kind of just want him to go away BUT hate the hassle of having to show the place again (40+ min drive from my house each way), run background checks, etc.What would you do in a situation like this?

Have you factored in holding costs (insurance, utilities, taxes) and selling costs (commission, tax/deed fees, etc)?

It only looks dumb when things are going well or in a highly stable environment.And I don't think your opportunity cost calculations factor in risk spread appropriately.

Just factor it into your numbers and if it doesn't pan out then move on to the next one.

Also, each area have varying standards on when a permit is necessary, so you'd have to factor that in too. 

Cost approach is a different subject matter and...I think the owners are factoring rehab into their asking price?  

The search algorithms differ for each platform, but for Airbnb the main factors include response time to inquiries, instant book turned on, pricing, and reviews.As others have mentioned, I would look into other platforms/websites that focus on corporate rentals.

Yes family and friends where our driving force to the areas we invested in.