Less than $300K in a mortgage, generating $4,000/month in rent.

I think we will see more "adult" families living together...kids move back in or parents move in with kids.The traditional apartment model was based on 12month leases, but jobs are not always 12 months and people want flexible terms, so co-living often offers that.Seems like younger people between 20-30 and some other age groups don't want to get married and start that housing pathway our parents and grandparents took.   

I won't touch it if I can't make $100K a few months on something. 

My business partner and I have a monthly fix/flip forum we hold in Scottsdale and mainly just work with flippers/investors. 

What you want to ask is what is a good ROI or better yet, your Cash on Cash Return.I know someone who has $3000 per month cash flow.

Because the property is so unique pricing likely needs to be as well, maybe consider that based on the property needs/maintenance and location you may not want it consistently turned over so maybe you open 28 day slots and allow use with a 1 time per month turn over.

If it was your own money I think you have to wait 12 months to refi.Run your numbers and make sure you will CF with a renter first.

My cell phone is for the business, so we deduct it as a monthly expense.

another issue it is about 18 months wait to get a Cabin started due to high demand for builder.  

Have enough that after you buy the property you still have 6 months of expenses in reserves that you can use for daily living.