Quote from @Frank Pyle: My client recently purchased a home with a hard money loan and have successfully rehabbed it for use as an Airbnb rental.

I have had decent success challenging appraisals and getting improved results.  

Here is what I learned...1) They buy properties in Ohio, and that they claim each property would deliver a 30-35%+ cash on cash return. 2) The promised 30%+ cash-on-cash return is achieved with interest only loans.

Best of luck on your flip, and I hope it’s the first of many successful projects.

I manage my own portfolio and have worked as a PM for a very successful individual but have never considered managing other peoples properties.

To maximize your chances of success, recommend sharing that and the percent increase in taxes & ins with tenant and asking them what they think a fair increase is.- If they say $0-$50, you'll have to get rid of them at end of current lease.- If they are more reasonable you may want to accept if for now, but let them know you'd be doing regular increases to get the rent more inline with market rent.Too many newbies here will tell you to get market rent or get rid of the tenant.

You rent it for one year and create a successful STR business that shows a trailing 12 month net income of $75,000.  

My client recently purchased a home with a hard money loan and have successfully rehabbed it for use as an Airbnb rental.

These are some of the most successful people; CEO’s, tycoons, celebs, old and new money and investors on the planet.

The deal was successful and later on we sold the property at a significant profit and 1031 to something larger.