I already have an investment analysis workbook built that tells me everything I need to know to make a purchase decision, NOI, COC, ROI, and if the property will achieve the appropriate coverage ratio to be funded. 

When a Class A apartment can be had for the same price as a Class B/C renovated unit, the B/C operator drops prices, and so on.But, in terms of making an investment decision, I think it is short sighted to rely purely on full market average data.  

Use tools like AirDNA or Mashvisor to provide market data on projected rental income and occupancy rates, and make sure your lender works with appraisers familiar with short-term rentals.

You've already achieved so much more than so many!

Quote from @Dominic Mazzarella: Quote from @James Wise: TikTok is supposed to be shut down in the U.S on 1.19.2025 unless the Supreme Court blocks or delays the U.S. ban per Trump's request.I won't pretend to have any idea how the inner workings of the data collection between China and the USA effect the world, but on a personally business not, I like it.

Given all your data on historic pricing, average length of stay, and pricing at the 25th percentile, please let us know if you're able to push up the VRBO chain to speak to a Supervisor (or equivalent) and have them verify the data that supports your position.I can share that calling the VRBO support line: 877-202-4291, identifying yourself & property ID, and requesting a Supervisor politely and repeatedly, can lead to different outcomes.

I usually start by analyzing data like population growth, job opportunities, and rental demand.

All units would be metered so data would be there to bill the tenants (so no ability to question the bill) but landlord would still pay the bill given we can not have 4 main master water meters (can only do 2 x1 master meter + x1 sub meter combinations). 

Choose a goal so ambitious it forces you to grow into the person who can achieve it.

At the pro forma income, the cap rate would rise to 8%, which is more reasonable but only achievable after renovations.