However, I offered to accept an alteration for 9 nights (2 nights fewer than original booking), which would have been roughly 50% refund.Message between me (M) and guest (G): - G: shares Airbnb's cancellation policy after check-in: a 50% refund of every night that remains 24 hours after you cancel.

In this scenario, the tenant remains liable for their portion. 

And the pace of homes being built is too far below what we need to keep pace let alone catch up to where its only going to get worse.And that is going to drive up inflation big time.

My issue with Bako is that the cheap houses are in pretty rough areas, and are likely to remain cheap.

I can cover the negative cash flow for the remaining mortgage term and may look at paying it off early.

If you make a conscientious effort to avoid liability exposure you more than likely are operating your business in a manner in which claims will be covered by your insurance and your name will remain out of the docket. 

I have seen more than a few syndicators underwrite real estate taxes to 80% of purchase price, which this equates to, presumably based on a tax consultants recommendation.Put simply: when the parties disclose the value of the real estate being transferred, they put own 80% of actual purchase price, with the remaining 20% likely going to goodwill or other intangible assets.

-We have inflation rising in most decades and bringing the prices up.  

One cool thing that I recently discovered is the VA will allow you to use any remaining entitlement on the loan for a second purchase. 

He is a "holdover tenant," meaning he remains in the home beyond the term of his lease, but he still has legal rights.