There are basically 3 types, overnights (catering to RV's traveling along interstates), destination (resort style parks that people vacation at) or long term.

do you know your total valuation model number before and after the permitted garage conversion? 

Again, I'm just looking at these investors and wonder why they think its better to put their money into cd's making 5% when STRs clearly make a far bigger return - especially when you put them in a 5 or 10 year model. 

Each piece is a pricing add.Location, unit type/number/style/mid rise/single story, mortgage middle FICO, Down payment percent, prepay type, 3 points - no points, market rents, property good to perfect condition, rented at close with verification, reserves, vesting is real person or single LLC are the pieces that deliver a rate at a moment in time.

In Joes model, there is infinite leverage and therefore unlimited liability.

So how do we achieve this with our busy life styles???

Both of those models involve potentially comprehensive rehab to make a good return and new investors often hire the wrong people and spend way too much.Higher returns on her money can be found in debt fund syndications which are totally passive and can pay 12%.

My model projects these can be without private or individual site water, power, bathrooms, and/ or wifi and still be worthy investments. 

Long story short, cosmetically ugly and out of style is fine, not functioning isn't and WOOD ROT is a major no/no with FHA and VA appraisers.

That's what I'm telling myself at least...syndicating value-add garden style apartments here in NJ.