We are less worried about getting paid from owners we have a history with versus a new customer.

But for someone thinking about scaling and possibly repeating the strategy in multiple markets.. say, Austin or San Antonio-going the investment property route might provide more long-term flexibility.Have you noticed lenders trending toward stricter definitions of “second homes” versus investment properties?

More broadly - AirBnb is more lucrative if you furnish and manage it well, versus a long term tenant. 

You’re right, it is going to take a certain type of person that really wants a property in Costa Rica and sees the value in partnering with someone who already has the property and experience versus wandering alone into a foreign country. 

That is the difference between what you can get money for versus what you can do with it.

You calso never have to worry about "Money in the bank' versus a credit risk HELOC. 

To gain investor confidence, ensure the investment property numbers are real, use the most common contract forms in your state (versus a 2 or 3-page) internet/guru contract form) with appropriate addenda, or an attorney-drafted form and attorney-drafted assignment agreement.

If you are comparing the two, you may get more appreciation, but more issues in Long Beach versus something steadier in Riverside.

Versus professionals drumming up business.  

It sounds pretty basic and bare bones to do MTR in Phoenix versus what else is most likely out there.