Another appealing aspect of this property is that it includes a house currently occupied by an older couple.One major issue is that the house and the neighboring property share a well.

If you had a contract to have the source of the odor removed and the contractor didn't do it, then that's a issue they need to correct.

I work with a lot of landlord clients to help them resolve disputes with holdover tenants who are often not paying and causing issues with other tenants in the properties too...Reach out to me direct at the number in the signature below or simply DM me thanks. 

Airdna seems relatively accurate also, within 20% i'd say.

It is also important to inquire about any potential zoning issues or legal issues that may arise during the renovation of a burned home.

I get spending money on an empty place isn't fun but I think with good flooring, you may more easily find a tenant and also will have less issues in the long term with a stained/gross carpet.

Let's assume the 4 bedrooms are 25% of the square footage of your home.Let's say you make $80,000/year and you are in the 22% tax bracket.This will reduce the amount you have to pay on taxes over five years by: (Mortgage interest) x (tax bracket) x (the percentage of home used as rental) = $137,497 * 0.22 * 0.25 = $30,249.34 in tax savings.https://www.irs.gov/publications/p936https://www.irs.gov/help/ita/can-i-deduct-my-mortgage-related-expenses

I see investors who I have spoken with have issues with appraisals which heavily affect their loans, they have worked with certain companies that don't appraise correctly and even admit to it.

Do your best to mitigate issue before they crop up and annoy residents.Maybe create a free service, for those that are not using your management services, to come and review their STRs for safety, procedures for help etc.

I’m just still living with a relative right now so basically I want to move out and get into real estate.