Also depends on if you have strata/condo fees or HOA.The cash flow on my places are all over the place and yet I'm fine with all of the rentals for different reasons. 

When I brought up the cleaning fee he threatened to just leave once the end of the month was up and he'd have his gf clean for free which has not happened to this point already. 

Do you have a setup fee?

Technically, Conventional allows 15% down but you end up incurring a hefty hit to your rate/points options when you put down less than 20%, which makes causes most people opt to put 20% down.

I ultimately invested $65 cash, $5k in legal fees, and $9.7k in operational expenses while owning the home, and walked away with $17.3k after a judgement.What made you interested in investing in this type of deal?

I have three listings, 1. unit with a pool and hot tub, 2. unit with a hot tub, 3. both units together as a 12 sleeper.Gross monthly income (after booking channel fees) for the first unit over a 7 month period was $7309.Gross monthly income for both units over a 14 month period is $11,297 (after booking channel fees) As a long term rental the combined rent would be in the region of $5500.Is it possible to sell the property based on the income generated by the STR business or would the value always be based on bricks and mortar comps? 

Quote from @Jamie Banks: Here's a few things I include in my MTR lease- Utility caps- Outline of the furniture that is included- Details regarding which utilities are included- Outline who is responsible for lawn care / snow removal- List of fees (admin fee, cleaning fee, etc) Hi Jamie! 

I hope to use private capital to fund the entry fees in second position.  

We do charge a pet fee, and it has helped with any extra costs a pet guest has incurred. 

Your PM fees for LTR will be more in the 10-12% range, while for STR it is more in the 25-30% range (and don't forget about GET/TAT).