Most folks chase paper-returns and overlook the real wealth drivers in REI. 

Those remote flips and high cash flow rentals are so tempting on paper, but they rarely go well in reality. 

You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

You make a lot of assumptions as I have never been charged for linens, towels, etc   This is true for all my PMs in this area going back to my 1st 2 STRs in 1999.Do you scope the toilet between each guest?

Quote from @Chris Seveney: @Luke H.I would be very skeptical of appraisal at $250k and buying it for $120k.On paper yes seems like not a bad deal but I wouldn’t do it because it’s five year term.

A few I have seen don’t work on paper.

Your numbers look good on paper, but do they reflect reality?

You’re going to want some kind of “official” to declare she is of sound mind to sign such a paper. 

over and over. .Your paper is due friday by noon.

.- You will have to come out of pocket for the arears, fees etc, just to get into "contract" some times $20k or more and all you have as protection is the word of someone who's proven to be unreliable and a signed piece of paper...