From learning to make a lease agreement, to dealing with plumbers, and clogged toilets, I'm learning what it means to be a property manager for my family. 

Obviously if i were to buy one, i would try and make a few updates...laminate flooring, new paint, new plumbing fixtures/toilets(all work i can do myself at a pretty cheap price).  

If it is a full service tenant, that is a lot more cleaning, a lot more HVAC and a lot more things that seem simple but can add up -- toilet paper, paper towels, etc.  

I realized that a lot of the clients do not live close by or even in the state and would need someone to care for their property.I decided to start offering small services that would be just for the Airbnb such as supplying toiletries (toilet paper, paper towels, soap, shampoo etc), welcoming gifts for guests, meeting the guests to deliver the keys to them, and also lock out service in case the guest loses their key.We realized the demand was high and decided to add on more services.

Otherwise $200 installed -Flush mount lights: 6-pack contractor special $50Doors: - Interior Doors: 6-panel $215 installed- Exterior Front: $700 installed- Storm Doors: $350 installed.Bathroom:-Vanity: $650 installed-Surround tub/shower: $600 tiled-Tub: $350 reglazed-Toilet: $350 installed “American Standard Cadet”Kitchen:-Cabinets: $300 liner ft installed.

Old toilets can take as much as 3-5 gal per flush where the new ones are around 1.2 - 1.8 gal per flush.

@Alisha Magwood, you shouldn't be paying for squat except a normal local appraisal fee until you make it to the closing table. 

Insurance should be for things that are very costly, not simple things like a clogged toilet.

Maybe not much today, but what happens down the road when you want to stop being the guy getting calls about the toilet or the A/C is broke on a Saturday 10 minutes before a family get-together in the dead of summer?  

Four years later, the laws have changed, but the returns can still be very appealing and you don't have to deal with broken toilets or evictions.