It would require insecticide applications on a daily basis in some areas, and this is not efficient or environmentally sound.

If the below doesn't sound right please comment. 

Why try to take a neighborhood on yourself when it sounds like there is also neighborhoods around you where you can ride the the wave?

However, It sounds like you might not have ever done a short term rental before so I would take your question back one step to make sure that STRs is what you truly want to do. 

@Adam Mittermeier  On the surface this just doesn't sound like a deal. 

We are looking to eventually quit our jobs and give back to the community.Our tentative plan once we feel comfortable is to flip a few properties and eventually own rental, multifamily, or single family homes to replace our income to build passive income. 

These could be instant on boilers that could also replace a water heater. 

It's not hard- install aerators in sinks which don't have them(and install Water Sense faucets when replacing faucets, they'll use about 15% less water than regular faucets.)Then use low-flow shower heads(go for 1.75 gpm, anything lower will cause unhappy residents.)

Sound idea?

Sure enough, previous owner had been promising to replace the oven for months but failed to mention that to the new owner.