When it flooded a year ago, it took us over 30 hours of cleaning to get it to a functional cleanliness level where we could use the basement again.

The short answer is to take over the loan and payments, cash them out, give them a "reasonable" amount of time to move, offer to do the clean up for them and look for rehab money from a private investor. 

Its pretty much necessary for tax purposes to cleanly assign the profit/losses (N.B. 

Really all we did was remove some furniture that was left behind and gave it a good cleaning.

When all of things are newer and you manage the guests well, the actual maintenance costs for a STR tend to be about the same, if not a tad lower, than long term (NOT including the ongoing cleaning costs . . . which again helps reduce the unplanned maintenance and repair costs of the STR).However, in another way you're likely to have MORE maintenance and repair in STRs because essentially you have all the volatility as a normal house, plus furniture and decor, plus a revolving door of guests. 

With any luck, hopefully we can get this thing finished, cleaned, and staged to be able to hold an open house this weekend.

Clean properties under $900 per month rent very quickly.  

Went back to clean and fix it up and we were about to open the door when we hear a noise inside. 

"Senate Bill 113 would make landlords responsible for the clean-up costs of meth labs found in their rentals, even when the landlord had no knowledge of or responsibility for the crime.

"Our state organization, OREIA, has been fighting hard on your behalf to modify a state bill dealing with the remediation of meth labs.Senate Bill 113 would make landlords responsible for the clean-up costs of meth labs found in their rentals, even when the landlord had no knowledge of or responsibility for the crime.