See the image below for the process I recommend (double click the image for full size).The critical success factor is the right tenant.

While AirBNB is certainly imperfect about how they handle resolutions, I think there are some valuable insights here about the necessity of documentation.Putting myself in AirBNB's shoes, photos and invoices are absolutely critical to resolving disputes and damage/expense claims - otherwise, they would be at the mercy of people who wanted to abuse the system and make frivolous or false claims.  

Finally, always remember to steer clear of BIAS and discrimination when leasing to others— this is critical and can ruin you quickly.

Somehow, in his smooth rat brain, he thought that was the secret to making money in real estate -- getting other people to do anything that looks like really hard work with uncertain outcomes for you.It all put me in mind of a well-known passage from one of Theodore Roosevelt's speeches:"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.

Yeah, the people are critical in the U.S market, for sure!

I encourage you to post your analyses and welcome criticism because you'll pick up a lot from those who argue and tell you you're wrong so don't let that get you down.

Your words of advice, constructive criticism, and/ or comments would be greatly appreciated!

If you don't know off hand what percentages your local lenders will require, talking to them to find out is critical to the success of your exit strategy because you'll want to know how that the property fits your local lending criteria.

@Russell Holmes, yup, best skills you can teach them -- critical thinking, long-term goals with short-term milestones, and self-reliance. ;-) good luck.

@Mitch SmithI feel ya, part of Dale Carnegie's golden rules is "Never criticize, condemn or complain" and blasting someone in our industry could construed as violating that.