Hey Santosh,As of right now you're extremely exposed regarding insurance and I'm going to assume legally as well.If the home isn't registered as a legal multi-family with the town that's something you'll have to correct ASAP and make sure the home is up to code.Insurance wise as soon as they find out what you're doing they'll cancel you as the risk has changed from a single family owner occupied home to a multi family owner occupied home.

It really comes down to your goals and time commitments.Airbnb margins have been getting tighter and it is extremely time consuming.

To me, that is extremely critical.

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

I use brokers but they've been a bit of a disappointment lately.

I'm wondering what people's best experiences with low flow are, reliability, durability, best brands, savings seen, and if I should avoid the extreme low gpf toilets for water savings (0.6-0.8 gpf).

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

If we had gone with more optimistic assumptions then it would have been a very disappointing year financially at least.Every market is unique. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

I actually prefer some of these search and map features over the MLS.And those that think they can save $$ on commissions will be disappointed.