Welcome to BP and thank you to the both of you for your service! 

Because they are in construction, they help me do repairs on the house.

Promotional disclosure - I am in the business of selling professional services to real estate investors like yourself and completely understand it is not an easy task to find a trusted advisor to bring on as a team member. 

transunion offers one for free to you. once you've selected your prospective tenant, you submit their basic info (name, email, etc) into the TU site, and it asks what services you'd like: credit, background, etc. it will send them a link to complete the sensitive info like socials and such, and then charge them for the credit/ background check. or if you'd prefer to pay for it, you can select that option as well. ive been using this, pretty great so far!

No structural no foundation repairs, no termite infestation or other insect infestations, no mold remediation, no roof replacement, no septic).

These start from limited service hotels with no food and beverage components outside of your complementary breakfast. 

*  When you get licensed, everyone (including BP) will try to sell you leads, signs, more leads, business cards, more leads, name tags, more leads, health insurance, leads, print/mail services, leads. 

For my clarification, are you assuming the cap rate is after capex and repairs? 

However, I do not want to liquidate my emergency fund, but rather use it for repairs before I flip the property which I buy in foreclosures.

I looking to team up with REs who have done STR-focused deals and provide end-to-end service to manage STR in TN, WI, FL, SC, NC, VA, and Colorado.