Do non-traditional rental properties align with BRRRR?

[Scott K.]

My wife and I have been talking about buying inexpensive land and building a unique vacation / getaway experience, e.g.: Treehouse, Tepee, Yurt, Firetower, Lighthouse, etc., and putting it up on Airbnb.

We've looked at a number of Airbnbs fitting this description and when done well, they appear to have consistently high occupancy (year round no less) and rent from $200 to $400 per night.

So the cashflow opportunity appears to be legitimate. Do you guys think this aligns with BRRRR?

On the surface it meets some of the criteria:

- An undervalued asset is bought.

- Said asset is improved.

- Said asset is rented.

I suppose the big question I have is in the refinancing part of this. Would an appraiser value an asset like this without having traditional assets to compare it to?

Thank you for all of your help!