The basics:Build in 19103 BR 1 bath in each unithardwood floors are OK, need to be refinished but definitely usableasbestos siding31 exterior windowsfront and back door access into stairwell/foyerneeds full electrical upgrade (still has fuse box)needs full plumbing installedneeds full hvac systemdoing all carpentry and renovations myself aside from electrical (may end up hiring out plumbing too if the inspector will not let my Professional Engineer father-in-law certify my work)I'm reading all that I can on BP to learn about what level of quality I should use in my purchases and renovations, but is there anything you wish someone told you when YOU began fixing up an old home you were going to rent out?

I think if you are in a higher price point and you have a more upgraded cabinet/kitchen you can get away without it if that is the clean modern style you are going for.  

One scenario was that they would charge me $100 a month plus 20% of the income, but I would handle the bookings, and they would handle the broken toilet at 11pm.Eventually I ended up hiring a couple who are renting out a few properties on AirBnB since they are very short term rental savvy and specifically on AirBnB/VRBO, have a team of handymen etc whom they can call, and can go by the property as needed.

The entire electrical system had also been recently (& very professionally) upgraded to 200 amp, complete with a new NG Generator.The exposed ceilings in the upper floors showed sold steel angled reinforcing of the rafters given the unusual flat roof configuration & our snow loads.

Turns out the HOA has been imposing special assesments over the past year (to repaint the complex, upgrade the pool, etc). 

This spring I upgraded to the Pro account and began dedicating time to learning through the site and podcasts.

This isn't a broken pipe flooding the house.

You can go this route and upgrade when the time is right.Best of luck!

This tenant has broken your rules.  

Its all cosmetic upgrades).