For example my simple spruce up would be, renno bathroom, and kitchen, paint, and redo carpet upstairs.But if i think real deep into what I could do to make it a STUNNER then I think, knock down walls, create more open/broken floor plan, add central air, possibly do an addition to add a 3rd bedroom and second bath.So when you could do ANYTHING .. how do you draw the line of what you should do?

@Chris SeveneyI agree the sponsor is the most important factor, but passive investors can not ignore what they are trying to accomplish, and have a deep understanding of the business.The trinity!

Each lender is different, but you don't want to run afoul of those rules and find yourself deep in a court case with your lenders for fraud.

Quote from @Adriana Collado Hudak: Hi Jason - I did a deep dive into turnkeys and MidSouth Home Buyers checked off all the right boxes.

Seasoned investors have a deep understanding of the market.

Additionally, these investors can provide warnings about potential red flags, ensuring you hire reliable contractors and property managers.

A conventional loan may come in slightly cheaper, that's true, but the red tape on conventional mortgages is excessive to say the least.No Reporting on Personal Credit: DSCR loans are kept off your personal credit profile, which is perfect for keeping your personal and business credit separate.

that said the other issues are a red flag.  

Is it unlikely to buy at a deep enough discount to make BRRR and PM work?

They prevent bedbugs from entering or escaping mattresses.Routine Inspections: Regularly check mattresses, bed frames, and furniture for signs of bedbugs (small black spots, eggs, or live bugs).Furniture Choice: Choose furniture with metal or plastic legs instead of wood, as bedbugs are less likely to infest non-porous surfaces.Bedbug Traps: Place bedbug traps under bedposts and other furniture legs to catch any potential bedbugs before they become a problem.Professional Cleaning: Schedule routine deep cleans between guest stays, and if you ever suspect bedbugs, hire a pest control professional immediately.Clear Guidelines: Educate your cleaning staff on how to spot bedbugs early, and encourage them to report any signs immediately.These steps will help you set up a smooth, well-managed STR that’s ready to generate revenue while maintaining a good relationship with your LTR tenants.