Regular inspections help catch problems early and deter undesirable behavior. 

They'll use 20 minute hot mud mixed with hot water.

I wouldn't be on board with this strategy unless you are holding in an undesirable location.

I've heard that with a license you have certain limitations that are undesirable, but I'm not sure.Do you have money to invest ($100,000 or more) or are you broke just starting out?

That will lead to frequent turnovers every couple years that will cost us a lot of $ with make readies, on an undesirable class of people nobody wants to rent to.

I would be too far underwater and have to live in an apt in an undesirable area or do van life which are not conducive to my current job.

The "guidelines" are as clear as mud, IMO likely to discourage litigation but perception is reality so I put that in my lease so that a lying tenant would have to guess both what I would do and what the courts would do too. . . 

I just don't want to sit here and spin my wheels in the mud and wait and wait for fate; I'd rather actively do something.My soon to be business partner has worked for remodeling companies and knows a lot of the players in her area and nearby.

Removing mud, damaged drywall, and making sure there's no mold growing is something any normal contractor or "grunt work" for hire should be able to accomplish.

The house was a 3bd/3ba with an office and a large mud room, but under the STR licensing rules in place for the year I ran my first property (which I called to confirm before shopping and again before buying), this new house could be a 5bd property and sleep 18 people comfortably.