What you are asking of him is reasonable to prevent future miscommunication.

I believe right now in NY state (and some other states) that you may be prevented from evicting due to moratoriums due to the covid pandemic.

However, if you are putting up 75% of the capital and doing 25% of the work (which is hard to quantify and practically implement) then that starts to make sense.

There are an overwhelming number of avenues to do so, but deciphering which information to trust and implement has me baffled.  

I appreciate this advice and plan on implementing it immediately!

After removal of the drywall and floor coverings the wood structure and framing would be treated with a surface applied water-based encapsulating sealer to help prevent the release of any odors that have penetrated into the wood components.

Short term rentals will need to be fully furnished, with linens and towels, kitchen implements, plus consumables like soap, toilet paper, etc. 

Rely on your criteria and try your best to not let the emotions prevent you from jumping in.

Once you can answer most of those, you are ready and the rest is simply implementation.

And I still screwed it up, I was just lazy and took a shortcut against my better knowledge. 99% of our tenants are great; they take good care of the property, rent is on autopay, my guys do an annual inspection in fall, we fix things as soon as we know about them and we do preventative maintenance.