I would suggest you up your rate from 8% to 10% to help off-set some of that cost. 10% is doable all day long here in Texas.

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

Maybe you can find other hosts to split the cost.

Home prices are one, cost of living and relatively disaster-free weather keeps insurance costs down.You can look up the median home price for every city or metro area.

Ultimately the pictures combined with the location are what sells it.You want to avoid HOAs at all costs.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

His course will cost you 5k plus the downpayment of say $2500 on a property that likely needs work before it's ready for inspection. 

Just a cost of doing business.

Purchasing a “distressed” property and “repositioning” it requires significant capital for improvements, build outs, holding costs, maintenance.In looking for that “needle in a haystack” slam dunk great deal you’re competing with very knowledgable, greatly experienced investors with the cash to make no contingency offers and close in a few days.  

It has good integration, is cost effective, and the direct booking feature is pretty good!