Analyzing STR deals

[Amy Ranae]

What criteria do you use for analyzing non-owner occupied short term rental deals?

Formulas/spreadsheets/math tips are a plus.

I have rental history for 3 years on 2 properties I’m considering but it’s only topline and these properties are second homes so I’m not sure how often the owners are using them personally.

I know there is room for aesthetic improvement, but wondering how much I can push the occupancy.

What would you look at and consider?

Thanks for your help BP friends!