This included changing cleaners, changing plumbers, changing HVAC companies, tinting windows so they don't look as dirty and need windows cleaners, changing internet providers, changing from satellite TV to DirecTV stream, remove/change items requiring high maintenance like skeeball along with a dozen other things. 

Bought the property in July with one unit needing a new tenant- The open unit was dirty after cleaners had been through ($350).

And there was no concerning moisture levels when he tested the walls and carpet. 

Lot of times we replace carpet with LVT, new paint and new lightning makes A HUGE difference.

Our clients making mid-six figures via W2 get the most significant benefits by launching an STR by the end of the year and offsetting taxes.The most common hurdle is the material participation test, often achieved by committing over 100 hours of direct management and tracking that time to ensure it is more than the hours spent by any other individual, including cleaners and property managers.

The IRS specifically said that inclusion of carpets and appliances in a 1031 exchange is case by case.

Carpet felt dirty to me. 

If your goal is cash flow now, wholetail/flip and redeploy into a cleaner 1%+ rent-to-price deal.

The demand is usually steady year-round in Chicago for that group.That said, here’s how I’d weigh it:If you go MTR:You’ll need to furnish it properly — not fancy, but turnkey: queen bed in each room, blackout curtains, comfy couch, smart TV, solid Wi-Fi, a stocked kitchen (pots/pans, utensils, coffee maker, toaster), and a simple desk setup.Expect about $4K–$6K upfront to get it guest-ready if you’re starting from scratch.Cleaning and turnover management can be automated (Turno app or a local cleaner), but there’s still some coordination involved.Since you’re near a hospital, list on both Furnished Finder and Airbnb (30+ night stays) — that combo usually keeps you booked.If you go LTR instead:You’ll save yourself the time and mental load of setting up a new system while adjusting to newborn life.Even if the rent’s lower, you’ll get steady income and less stress, which might be worth it right now.Winter leasing in Chicago:Yeah, it’s slower — especially December through February — but MTRs tied to hospitals stay active because medical contracts don’t follow the same seasonality.If this were me?

A PM needs to make money , the cleaners need to make money and the contractors that did the work need to make money .