When it comes to foundations(or anything structural for that matter), plumbing and electrical, it's better to bite the bullet and do it right the first time.

Drive around off the strip, out of season and what will you see? 

@Michael Baum also hit one of the most important things - dynamic photography that changes with the seasons and mixes itself up so it's not a stagnant listing.There is no hack to be the best at something (just look at all of the number one bestsellers on Amazon who sell 100 books total), just work on the product, the amenities, the dynamic pricing, and be resilient and responsive to feedback from the first guest on.

Even once you get the mortgage current, your credit may still show the delinquent payments, so it could take some time before your credit seasons to a better score.

We've done something similar by offering local coffee, tea, snack baskets, bottled water, local pastries, and seasonal flavors (pumpkin spice, peppermint, gingerbread, etc.) which have been a big hit with much less risk involved. 

(Short term in the peak season <30day bookings, and mid term for the rest of the year >30bookings).65% occupancy rate is common around the metro for Airbnb.

I manage a few properties in coastal NJ and the season is 3-4 months. 

Do you really believe  that someone with no capital, no experience, and limited education provided by 2 weekends at a guru boot camp is really going to be able to earn $100k annually by finding properties experienced investors spending $10k monthly on marketing to find have somehow missed, and then negotiating prices 50% below real value and flipping the properties to seasoned investors?  

With historical vacancy factored in, that will likely be more like $143,000 rent topline, not including seasonal A/C surcharge revenue, plus about $1,520 in laundry revenue.Expenses: Total operating expenses are running about $59,200, before depreciation or mortgage expense, and not including the offsite property manager role (me doing screening, etc).

There are seasoning periods which means you have to wait if you want more cash out if the property because of property improvements, time passed or a combination of the two factors.