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Many Airbnb hosts are switching to MTM to fill their bookings, so you have more competition. 

There's less people buying 2 flats, therefore there's not as much competition to buy.

I would recommend checking out Airbnb, Zillow and Furnished Finder to see what else is out there in terms of competition to get an idea of pricing and level of furnishings. 

We were originally going to Ann Arbor but the real estate market was so competitive there it started feeling like the Bay Area.

I'm sure more questions will develop as we move through this process.It's pretty competitive, so you'd be best off having some inside information and someone who has flipped a few in the area.

Your main competition is the dorms and the apartments on the north side but housing in general is still sparse for college students.

But I’m thinking of turning it down since being a licensed broker doesn’t fit into my fantasy about wholesaling!  

Pre-covid time were different, there was less competition so the occupancy was high for sure.

I think another element, especially in major cities, will be an attempt to lure tenants through better amenities, competitive rents, and employee-incentives.