Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money. 

The maximum fixed-rate period seems to be seven years, and there is generally a balloon payment at 10 or 15 years.

The payback period can be anywhere between 3-7 years depending.

@Ethan Borshansky, There was a brief period of time in the early 2000s when this type of "leasehold exchange" as described above was fairly common. 

Have them pay a week or two before they arrive when they are past your cancellation period.

. - Despite 3 tenants in under 3 years, it has done very well for us and has only been "vacant" for 15 days in that period, and has great cash flow, ~$1000/mo due to ~50% equity in the property, and a low covid-era interest rate. - I have been saving ALL of my cashflow into its own account to accumulate to buy the next rental (totaling ~$24,000).

Your decision to lease this property for short periods is what makes this a short term rental property, not the property itself.

Make it your business practice to post the notice to pay or quit precisely on the day after the grace period ends, every time.

They then missed out on several more years of growth because they got out of the game and waited on the sidelines for things to look better. 2010 to 2012 was the period that cash investors were the players or those with IRA keep in mind investor loans were still basically non existent in those years for all those expect very well to do Investors beginners were not getting investor loans. 

I'd love to hear more from you.Residential Districts (2019): Renting properties for periods less than 31 days or a calendar month is prohibited.