In 2023 I did 270k gross w 74% occupancy.

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

Plus you can be more selective of the tenants you rent to being an owner occupant!

I am unsure how to accurately predict rates and occupancy.

By reimagining layouts, we improve functionality while enhancing the overall aesthetic.

Another option is to split the cost based on the number of occupants in each unit but this also means you'll need to adjust the charges as tenants move in/out, so it requires more work and I wouldn't recommend it.

One challenge was getting the hotel occupancy up after renovation since no one had booked or stayed in years so there was no existing guest base.

With 4 rentable rooms (including the basement), I expect to generate $3,600/month with full occupancy.

For an investment property (purchased as an owner occupant), that is insane. 

Hey @Raven Ye Mahar, so you should call the city and make sure but if you are renting it long term, you shouldn't be on the hook for any of the occupancy taxes.Nashville has a STR Occupancy Tax - https://www.nashville.gov/departments/finance/office-treasur...In the end, I would just call the city and get the deets that way.