Doing your own general construction for a rehab project can have several advantages but can be very costly attempting  without having knowledge and experience.1.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

If you went with the 'delayed financing' then you could recoup even more than 75% of the initial purchase price along with some rehab funds if that is something you are looking to do with the property.If you go cash on both the purchase and the rehab, then you could go with a refinance either on the unseasoned cost.

My yearly cost to run my STR is $30k and I've been bringing in $100k for the last 2 years.

You also have to consider your holding costs - you are paying HOA fees, insurance, and property taxes.

I was wondering if the tax benefits outweighed the upfront cost, but it doesn't appear to be so.

The assets are old, need work constantly, the cost of living is high, and there is no job growth.I wouldn't solely focus on cash flow.

Between all of the set up work, creating your listing, responding to guests, setting door codes, scheduling cleaners, paying bills, reviews etc it is not hard to log 2+ hours per week.

Additionally, I'd appreciate any tips on balancing cost-effectiveness with durability.

Rent costs are nearing 2019 levels.