The biggest mistakes are typically at purchase - over paying or missing large rehab items needed.

Though the previous tenants lived there for a long time and kept it up, it may cause issues if the new tenants ask you to fix items that may not be necessary.

My lender offers credits to offset any of the estimated items that come in higher than expected. 

I would take exception with one item in your description.

You can then compare that to the company you mentioned and pick the best fit for you.The primary item to watch for would be prohibited transactions.

My thought is to put together a database of big ticket items (roof, siding, water heater, appliances, etc) that I will update with prices every year or so. 

@Kerry Baird @Bill P. as landlords/RE owners, if you were to be approached by someone looking to utilize the Airbnb/VRBO models in one of your units, what would be the criteria that would convince you to lease to that individual vs. doing it yourself, or leasing to a traditional tenant?

So sorry that you have to replace all of those items and deal with it while guests are there..

They would need to fit the Brrrr model. 

And which ones should be complete-partly in-house and outsourced as well pros-cons of both models?