We hired Bildwise for a renovation of our 1965 single-family home that included complete electrical rewiring and updating, roof replacement, light kitchen and bathroom remodeling, new flooring, new interior paint, and masonry repair.

Making for a setup of non-closing buyers and a revolving door of damage repairs. 

For example, trying to get detailed repair costs of replacement cost for large capex items.

That means you report rental income, but you also get to deduct all the related expenses (maintenance, repairs, depreciation, etc.).You’ll pay higher property taxes without the homestead, and financing is typically a bit tougher (higher down payment, slightly higher rates).You’re on the hook for landlord responsibilities and compliance, even if it’s just your kid’s roommates.Which makes more sense?

Wow, you haven't provided quite enough to analyze this so I'm making assumptions.If you think this house is a solid comp, now you have an ARV.Zillow thinks that house would rent for $1,600If you could buy that house for $115 and it needs $45K in rehab, a hard money lender would probably lend you up to $175K which means, you could buy this house for nearly $0 out of pocket after closing costs and holding costs, assuming you have a good, ethical GC that can do this repair for you.I don't have full information, but it looks like your total loan payment (PITI) would be around $1,300 per month. 

Not super complex.Our repair people know how to work on hot tubs.

In many cases people either look at renovation specific loan products (like FHA 203k or Fannie Mae Homestyle) or go with private or hard money options where the loan is based more on the after repair value and renovation plan.I work with a lending company and I’ve seen investors structure deals where the renovation budget is built into the financing.

We really like the idea of being in a mountain/cabin area, but I worry about being able to find vendors (cleaning, repairs, etc.) as there doesn't seem to be too many STR's in this area to compare to. 

Learning to guesstimate repairs (most by square foot) will save you a ton of time and aggravation.

Property has equity, no major repairs needed How did you find this deal and how did you negotiate it?