Would I rather own an AirBNB in Galveston for the next five years where a permit currently costs $250 a year and a correctly bought deal can still perform exceptionally, or in NYC where I can no longer operate now and for the foreseeable future?

Quote from @Li Kia: Yes, these are all legitimate deductions.You are technically only permitted to charge them a depreciated value.

Not possible anymore in this market and I expect many will be forced to leave the business if they can't step up and evolve to the needs of the customer. 

I also look up the property on the county website to see if there were any permits pulled for the work recently done.

My company uses ShowMojo Self guided showings ... you can customize it to ask several questions and then it gets a copy of their drivers license to identify that they are who they say that they are.

If they are paying out 5% rates to their customers to relend out they usually need at least 150 spread to make any money.CMBS and LIfe Insurance can be lower on the interest rates but you can get yield maintenance or defeasance which is very expensive if you want to break the loan early.

I see that you are an actual company now and you obviously have a fairly good customer support/response team!

Do they have the land, permits, zoning, etc. locked up for the new builds? 

it seems like the potential buyer might want to have you put in some spec items that you normally do not offer to customers. 

A contractor will tell you anything is possible but that usually comes at additional cost and time.Challenges - We had some hiccups in the beginning of the project that got our project held up in permitting and added 2mo to our project.