Think about what you’d truly appreciate when renting an Airbnb, for example.

There is a major franchise that puts these together, writes their own lease (sale-leaseback deal) and surprise - Gives themselves rent holidays in later years in the lease.4) Realize there the return they give you is NOT guaranteed, so better history of the syndicator better the odds you'll get it.5) If you have the money, try to diversify and spread it around by prop type and location (ie make 10 buys of $100K vs. one buy of $1M)6) It's commercial RE - You CANNOT turn around and sell it if you need the money now. 

What will the rent be?

You can’t use the property personally for more than 14 days or 10% of days rented, whichever is more. 

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

I would only underwrite based on actual rents not proforma.

Quote from @James Jones: Quote from @Mitch Conrad: There are models where you rent to an operator but that wasn't for us. 

Research market rents, carefully calculate expenses, and ensure you have a solid lease agreement.

@Tamika Davis One of the biggest advantages of most software on the market is to complete these tasks you mention (maintenance, leases, rent collection, etc). 

We'd love to escape the cold Dutch winters and enjoy a warmer climate.When we're not using the property, we plan to rent it out as an Airbnb to generate passive income.