Investing somewhere hoping the market improves and then you can sell it at a different multiplier based on profits? 

During the many "turns" of the condo this trend has continued as I did not drink the beverages and those have since multiplied after each visitor departs. 

On a park, you can calculate the NOI by multiplying the number of spaces occupied by the lot rent, and then multiply by 12 months, subtract the expenses (can range from 35-50%, that % depending on the variables above).

Typical long-term rent multipliers are more like $100 x monthly income...but I just don't think you'd get anybody to pay you that that much...hopefully someone more experienced with STR's will weigh in.  

Even if something is cheap, when you multiply by 11, not so much; we'll be doing major upgrades slowly.

Just take the interest rate they are charging multiplied by the money you are borrowing.

We take the full month's rent, divide it by 30 and multiply that total times 11.The reason we charge for the entire month the first month is because we don't want the tenant to use the apartment like a hotel room where they pay for 11 days and move out.I am fairly positive that if what you are saying is 100% correct then the landlord is not doing business legally.It is also very possible that the management company is doing the books, telling the landlord the apartment was rented for only 11 days and the management company is pocketing the difference.As stated, I would record the conversation and let them know.

I take the ARV and multiply it by 70%. 

Hello BP friends,There are multiply arguments I hear when I talk to folks about using hard money loans for rental properties.

Or multiply using your proceeds as down payments to get economies that way as well as the return boost from leverage.