As long as you operate a legitimate business and observe the corporate requirements you should be fine from that standpoint. 

Furniture and amenities, cleaning and turnover expenses, and maintenance and repairs are examples of variable expenditures.Mortgage payments, real estate taxes, insurance, property management fees, utilities, upkeep, and repairs are examples of fixed costs.

These are all very very different assets and require very different expertises and experiences.

However you likely cannot refinance for a year if you complete a quiet title because most lenders will require title insurance and providers typically won't issue it until you own the property for 1 year even if you complete a quiet title because the tax sale process is so messy and prone to issues.

Hold it for forever, refinance as required to tap into equity and continue to grow our little portfolio.

Even if you wanted to lower the CapEx and Maintenance portion to 3% of rent you should still account for some extra expenses.

You'll do this for everything in the home that requires replacement: interior paint (4 years), flooring (12 years if you use 12 mil LVP), roof (20 years), hot water heater (10 years), oven, washer, dryer, garbage disposal, microwave and so on. 

Those make you better cash-flow but it requires a bigger initial investment because you renovate upfront and furnish it.               

**Not Accepted for Loans**: Lenders typically require a full appraisal, not just a BOV/BPO, when approving commercial mortgages or other loans secured by the property[4].3.

@Lucy YenA calculated strategy to creating wealth and cash flow is required in real estate investing.