How about a Reality Check, shall we.... 

Is it worth paying the fees for each stay and getting a long term renter or is it better to keep the reservations? 

Check the location - is it in a desirable area?

I recommend you read some books about how to manage properties well, use a strong contract, know that contract inside/out, know your state law inside/out, build policies and procedures to catch and stop problems quickly, know how to screen and select good applicants, etc.An ounce of prevention is worth a pound of cure.

I'd check out those sections in the Real Estate Strategies section.

I would be purchasing with an FHA loan, how do i assess if the deal is worth it?

They would have to have a smaller layout and then completely re fabricate the whole kitchen.....It's basically just not worth it.

I'd check Lynchburg : https://www.meetup.com/lynchburgreia/I'm just north of there so I go to one in Wboro ocassionally. 

@Cameron Daste15 or 30 year mortgage it won't make a difference. if you buy the house for $200K and have a down payment of $50K then your loan is $150K. after renovations you sell the house for $250K then the title company pays off your old note (loan) for you and then you get a check for the $100K

For example, below is a photo of a boarded-up fire-damaged property in poor condition.The popular site for a rental estimates I checked predicted the rent as $2,199/Mo.