The same as a steel mill or a hotel or a car wash. 

(wash/dryer/ fridge / maid service. etc..) 

I'm selling my apartment furniture in Tucson, AZ from my airbnb for a 2 bedroom / 2 bath, this includes a full living room, bar stools for the kitchen, a fully stocked kitchen, and laundry room.

Many people will think I am conservative with this but I do not agree.Vacancy at 5%.Insurance: I have no units in Santa Monica but I will use $150/month but I am sure others could provide a more accurate number.Maintenance: I have no units with this mix but I think $150/month might be close.Utilities for laundry room and ?

Blue tarp on the roof, lots of trash in the front yard, and it's very apparent that the house has not been washed or painted in years. 

So unless you speak directly to the previous landlord, you wouldn't know.If I'm wrong, I don't believe I'm far off from the truth in this matter.Also, how long was he on this "steady good paying job"?  

As soon as waste starts washing into your field lines, your days are numbered.

I think it pretty much comes out as a wash for the most part as far as taxes go.  

Down payment and the entire home was renovated- a full bath was added, central HVAC and heat pump installed, upgraded hot water heater, entire back 1/3 home: new insulation, drywall, and trim, addition of laundry room, fully furnished and new appliances.

It wasn't totally worthless, but if I didn't already have my long term rental business that I could piggyback this off of I think it would have been about a wash in terms of value (ie the bookings I got I probably would have got anyway on Airbnb or VRBO).