How do you determine monthly revenue for a potential property?

[Grant Doyle]

I currently own a fourplex outside of Tulsa and I am considering buying a property in Kansas City (where I grew up) as a short term rental. Of course I will crunch the numbers to make sure that it works as a normal rental but how can I estimate what my monthly revenue will be as a short term? I understand location and bed count are the two most important factors and I should find similar properties when estimating, but do you have a specific strategy when making a purchase?

[Paul Sandhu]

Look at what motels your clientele would stay in.  Find what they charge for a room with 2 beds and extrapolate from there.

Here a cheap motel room with 2 beds is $400/week.  I charge $600/week for a 3 BR house.  My renters are refinery contractors with a per diem, not vacationing people.