@Henry T.

The right choice depends on your goals, your management style, and how you want your portfolio to behave.

Rather than spending the extra money on fully replacing them we came across doing a refinishing kit for example epoxy style coatings. 

Great points, Jeff — and you’re right to highlight that the expense ratios are unusually efficient for a coastal STR.A couple of clarifications on the numbers:The current owner self-manages, which keeps cleaning and maintenance costs lower than a third-party STR manager would typically charge.Some of the repairs and CapEx were front-loaded in prior years (new flooring, appliances, and paint), so last year’s P&L reflects more of a stabilized-operations scenario.The utilities figure is accurate — it’s higher due to being master-metered for the property — but the other OPEX categories are slightly understated if you were to underwrite this as a fully managed, third-party operation.If I modeled it using a professional management assumption plus normalized reserves, the operating ratio trends closer to 48–50%, which aligns with what you mentioned for coastal STR multifamily.I appreciate you calling that out — it’s a great reminder of how much variance there can be between owner-operated and institutional-style expense reporting, especially in hybrid STR assets like this.Here's the owner's profit and loss statement for the exacts of the 2024 year.

If your subject (0.5 acres) looks more like the lower end of the lot sizes, value it against those.Only give premium value to land if the market clearly rewards it (rural, equestrian, estate-style, or where people actually shop by acreage).If all comps are bigger (0.75–1.25 acres), we mentally adjust down a bit, not a percentage, just enough to keep our ARV conservative.

They tie up a property for 30-t- days with zero intention of buying, only trying to find a buyer. 

You might even want a CPA who can handle it all, tax planning, bookkeeping guidance, and strategic advice, so you’re set up for growth and efficiency as your portfolio expands.Here are 3 things I’d look for when interviewing CPAs for a real estate portfolio like yours:Real Estate Expertise: Experience with both long-term and short-term rentals, understanding of deductions, deferrals, and strategies to save on taxes.Proactive Guidance: Someone who actively looks for ways to optimize your portfolio and keeps you ahead of tax law changes.Communication Style: They should explain things clearly, answer your questions, and work in a way that fits your style, virtual meetings, email, calls, etc.Once you narrow it down, you’ll have a much clearer picture of who can help you save the most and grow your portfolio efficiently.

Class C style tenant  What credit score are you expecting a target tenant to have?

Make sure that the rent comps come from properties of similar vintage (IE - year built), size (# units), and type (garden style / mixed use midrise / townhomes, etc).

STR and event-style buyers tend to respond well to deals with character, views, or flexible zoning.