We will be replacing flooring, cabinets, lights, vanities, toilets, paints, cleaning up the exterior, addressing the foundational needs and more!

You own the property and the residents are replaceable if needed.

At least in their markets, once the home is depreciated out, they can always replace or sell it in place for just the lot rent.

As you know rent is quite low (median in Milwaukee is about 1,200 for a single family) yet you have the same infrastructure to maintain: one kitchen, one bath, one HVAC, one water heater etc - cost of replacing a water heater is the same, no matter if your rent is 700 or 1200 or 1600 (which is our typical rent for a SF).Income (rent) is a function of size: bedroom and bathroom count as well general space meaning square footage.

So while direct bookings are valuable and have a place, it's important to set the expectation that they are unlikely to truly replace Airbnb.

But there is no replacement for your own education that you HAVE to have to really understand what you are doing with your money. 

Roof will need replacement in the near future.2) EXTERIOR: - (including siding, drive/walk): No problems found.

I am replacing a few floor decking sheets, replacing the entire bathroom in one tore walls out put in new studs, tub, toilet, etc. 

Have to replace it on Monday.

I'm looking at replacing the gas heater with a newer Rinnai heater for the safety concern of using half a dozen space heaters.