Much of their food would spoil and they'd be hungry, and most people don't have a proper stock of food and what do you think people will do when they're really, really hungry?

(Food for thought)10% for Cap Ex & 5% for maintenance sounds fair and consistent with many BP suggestions.If it is value add and you do renovations, then hopefully your place will be "like new" and won't have many of those repairs/maintenance/cap ex issues early on. 

Love living here as well, big city but has a lot of small town touches, Theme Parkes, historic attractions, military bases, great food, and friendly residents.

Not only that, but in my case, where I am a builder-owner until my license is approved, its ridiculous dealing with 'hiring' anyone to 'help' in this state so I've resolved with my trustworthy neighbor to paint it together and all i owe him is some beer and food.

Get rid of them ASAP.I'd talk to the city and ask them politely how you are to get rid of the smell from the fridge when it is filled with the tenant's food which is causing the smell. 

I believe the OP said earlier in the thread that the neighbor has another STR on his other side too… maybe he’s had trouble with guests and a rotating cast of strangers beside him daily and he wants to ensure the misery is more evenly distributed… I would hate to have a STR on both sides of my house.

@Mike LambertI concur with the widely held notion that a few years ago, the properties in Tulum experienced a surge in their occupancy rates due to low supply, leading to a remarkable increase in average daily rates (ADRs).

In Lake Tahoe having more beds is better sometimes because the average daily rate is higher so more people generally want to split the cost.

I work with mainly investor clients and pour over the MLS daily to shop these "propportunities" to my clients. 

Is it MLM to want the brokerage who is doing thousands of transactions daily to share that with those who made it possible?