The repairs vs. deminumus vs. capitalized tests all come into service one an asset is in service. 

Again, this may not be true in your market so you'll want to do some research/post a test ad.Hope this helps a bit!

I knew that didn't pass the sniff test.

You said it was an older home, so remember Virginia has required disclosures like lead paint, and there's a new required tenant rights and responsibilities form that has to be done, some localities require annual smoke alarm tests or rental inspections. 

You can get a better return on that dollar by updating the roof.To paraphrase Morgen Housel; at the end of the day it really needs to pass the sleep test.

The FIRST Thing I do is a quick sniff test on Furnished Finder for a broad stroke guess: Right away I can see a few big points: a.

There are schools all over, including Wilmington for sure. https://dpr.delaware.gov/ has all the details on schools and requirements, typically the schooling can be done online and then the test is done in person at a testing center. 

I did a test and input this data into ChatGPT: What is the ROI and monthly cash flow on a property purchased for $135,000?

I use this to replenish consumables - toilet paper, trash bags, paper towel, soaps, etc.It's important to also note that I overstock a lot of these consumables so the guest should want for nothing when staying so to me it seems like a fair trade.I have also just started testing out the Management Fee function in Airbnb to spread charges over the nightly rate.

You may have to pass a city inspection - one of ours is every 4 years unless fails, then it’s every year; some require lead-free certificate or testing between tenants; one of ours now requires a smoke alarm report and a new certificate that tenant must sign saying they know their rights, eviction won’t happen if ypu don’t have that for court.