With all of our experience, including my husband being a residential drafter and designer.

Loss of Use / Loss of Rents: Normally, there is a 20% included limit.

I would also include 'creative financing available' at the beginning of the listing description to capture everyone else looking on Zillow, etc

We completely gutted and finished the basement including adding a kitchenette and 3/4 bath, moved out and are now renting both apartments.

These include drafting offering documents, adhering to ongoing disclosure rules, and audits, which can easily run tens or hundreds of thousands of dollars.

I'm trying to raise funds from my family and I am being asked to produce pro-forma scenarios at 2, 5, and 10 years which should include IRR and ROI.

Multiple people including myself have tried to caution him of the the true costs but he's been repeatedly dismissive and has made it clear we give him motivation and he wants to prove us all wrong (whatever that means). 

Work with a qualified tax advisor on filing all of this including filing the 990T return for the IRA.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

For your payout, I don't know the full story but Airbnb doesn't cover extra fees including cleaning fees.