Out of money and options, he licks his wounds and lets it go for back taxes. 

I'd say the Bigger Pockets forums are one of the best places to explore how to put your money to work in RE. 

You will only have one opportunity to get money out of an approved tenant.

I’ve got a distressed and on-market house that was recently completely renovated until the couple ran out of money (all of the heavy lifting has been done, just a few things left), and it is listed well below market price compared to surrounding comps I could find.

If you are uncomfortable investing your own cash, how will you convince others to invest their money?

Rather, it will be considered earned income... and if you have losses especially the first year with a bunch of start up costs and depreciation... and if your money is at risk (let's assume Yes), then this business venture can offset (or add) to your W-2 income.This is how short-term rental loophole works.

If your potential numbers already look good, you most certainly won't regret the money spent on a designer!

,...the one that makes  you more money. 

For example, turnkey is great for people who are busy working 9-5 and want to simply invest their money somewhere instead of it sitting in the bank.

Layoffs have started for full time jobs and people want to save money instead of going on vacation, other people can't afford it because they have run up their credit cards because their salaries hasn't matched the rise of inflation for basic goods.