Unless you've got deep pockets, a thirst for the edge, and are lawyered up it's probably not something you want to attempt. 

If the accredited investor took your money and ran, you probably wouldn't have a leg to stand on in court because you weren't supposed to be In the deal in the first place.  

I'm probably 40-50 years older than you. 

They said this is an older home, and has had some minor renovations but it probably would need some form of work if comparing it to the fully reno homes in that area.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

At least, that’s how it worked out for my wife and me.Since you both have years of experience as tenants, you probably already have a good sense of the kind of renters you'd want for your property.

It sounds like you sold, but if we can ever help with anything in the future please don't hesitate to reach out, even if I can't help someone in my network probably can.

I will say that it's also probable that our VRBO guests are more comfortable with a higher rate if it has the comfort, conveniences, etc. they want whereas AirBnb seems a little more price-sensitive.

years, I would definitely sell it pretty soon, because if/when the market weakens it will probably start losing value.

If it does sooner than later, or really at any point, it means destruction in the economy and if you were waiting you are probably impacted by this destruction.Rates moderate and season here for some time with opex being a persistent headwind.