Just as a standard tenancy building will have different attributes relating to its ideal tenant and the type of tenant that will find the building ideal, each Airbnb listing has characteristics which much be taken into account (many have already been listed in numerous posts above some by yourself even :) ).I believe as the industry develops we will find more tools and templates come to surface to make it easier to determine individual profitability profiles and considerations for properties.  

It is more likely that location, size and other attributes will outweight this in a renter's view of the value of the place.You don't mention having a budget for renovations.

(especially if you buy a stucco'd home with a tile roof)Add to that the fact that Phoenix typically has better than average annual appreciation and you've got a good mix of positive investment attributes.

If you offer a unit for accommodations to the manager, you can only attribute a fixed, smallish credit toward the normal rental fee for  the same unit.IMO, that issue is more complex than the purchase & management of the tenants.So your homework would be:financing the unitunderstanding state labor regs and requirementstax issues from having an employee

What I discovered is that 50% of your colleague count can be attributed to the number of forum posts you have.

@Curtis Steineke I am former military and would not change any of my experiences as the attributes of discipline, drive, commitment to excellence, etc. are great qualities to aid, in REI. 

. $2666 must be attributed as a return to the equity in the property first.

The gain attributable to the land will be taxed as capital gain at 15% (yay), and the gain attributable to the building will be taxed as Section 1231 gain which will in general be taxed at 15% (yay) *except* for the portion of the gain ($6,303) that is attributable to depreciation, which will be taxed at the 1250 gain rate of 25% (boo).  

Its tax attributes, such as income, flow through to its owners regardless of cash distributions.

In respect size and other attributes.